IRA Savings Accounts
An IRA Savings Account will help you to enjoy a better retirement and supplement your Social Security or other pension plans. In addition, depending on your individual situation, it may provide some substantial tax benefits. Just about anyone can open a traditional IRA. The interest on that money accrues tax-free until you begin to withdraw from the account at retirement or after age 59½. All ABCO IRAs are safe and fully insured up to a maximum of $250,000.00.
There are other types of IRAs beyond the traditional Retirement Account. There is a Roth IRA and an Educational IRA, also known as a Coverdell Education Savings Account. The Coverdell is typically used by parents and grandparents to set aside money for their children's (or grandchildren's) education. Each type of IRA is subject to its own conditions, restrictions, and penalties. You may want to consult a tax advisor about which IRA Savings Account is right for you.
|Account Description||Minimum Balance to Earn Stated APY*||APY*|
|IRA Regular Share Savings||$100.00 Minimum|
|IRA Money Market Plus**||$25,000.00 +|
How to Open an Account
Note: ABCO reserves the right to deny an application based on information provided by Chex Systems or by any other accredited source.
*Annual Percentage Yield. Fees could reduce earnings on the account. Rates subject to change at any time without notice.
**Money Market IRA Plus accounts will be subject to the terms and conditions of the IRA selected. Please contact us for details.