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Individual Retirement Accounts

Start saving today, and make those golden years a little more golden. With an Individual Retirement Account (IRA) offered through Your Hometown Community Bank, you can contribute as you go along — the sooner you begin the greater the benefit!.


With an IRA, you can enjoy tax savings* today and a larger nest egg at retirement.

Summary
  • Tax-advantaged* retirement savings
  • Competitive yields exceeding standard savings rates
  • Traditional and Roth IRA options available
  • No set-up fees
  • No monthly or annual maintenance fees
  • $5,000 contribution limit per year
  • Additional $1,000 contribution allowed for ages 50+
  • Penalties for early withdrawal apply

View our limited-time IRA special and current rates!


*Consult a tax advisor.

Traditional vs. Roth

Traditional and Roth IRAs each offer unique tax advantages to help you expedite your retirement saving. What's the difference? Compare below and consult a tax advisor to see what type of IRA is right for you and your family.


Traditional IRA

  • No income limits to open
  • No minimum contribution in any year
  • Contributions are tax deductible on state and federal income tax*
  • Earnings are tax deferred until withdrawal
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals at age 70½

Roth IRA

  • Income limits apply
  • Contributions are NOT tax deductible
  • Earnings are 100% tax-free at withdrawal*
  • Contributions may be withdrawn at any time without penalty*
  • Withdrawal of interest can begin as early as age 59½
  • Early withdrawal of interest subject to penalty**
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income


*Subject to conditions. Consult a tax advisor.

**Certain exceptions apply. Consult a tax advisor.