On the Distant Horizon...
When you have your sights set on longer-term goals and are ready to move a part of your savings into longer-term investments, we have a variety of structured certificates and protected-principal IRA's that will earn you more than a traditional savings account.
Certificates of Deposit
Once your short-term savings reach a certain amount, it makes sense to transfer funds to one or more Certificates, which earns you dividends at a much higher rate. Certificates are purchased for a specific term from 6 months to 24 months for an amount of your choice as long as the minimum balance is met. This excellent investment vehicle earns a high fixed rate for the entire term and is insured up to $350,000. Dividends are compounded monthly and your certificate automatically renews at the current rate offering, unless you request otherwise. Many people choose to invest in several CDs of different maturity periods so that they have a CD maturing every 6 or 12 months and never have all of their money tied up in a long-range account. Should you need your funds before maturity, you can close your certificate and receive the proceeds net of penalties. Click here for current rates.
IRAs
An IRA (Individual Retirement Account) is a personal savings plan that provides income tax advantages to individuals saving money for retirement purposes. Investments into an IRA are termed "contributions" and are capped by tax law. We offer Traditional, Roth, and Educational IRA's. The tax advantages differ with each so it is important that you consult with a tax professional to determine which type of IRA is best for you.
