You're never too young or too old to start an IRA. There are a variety of investments and rates available so you can find the one that's right for you.

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IRA Rates

Fixed IRAs
(Invest $1,000 or More)

1 Year Term
DR:1.78% | APY:1.80%

18 Month Term
DR:2.23% | APY:2.25%

30 Month Term
DR:2.37% | APY:2.40%

4 Year Term
DR:2.66% | APY:2.70%

6 Year Term
DR:2.66% | APY:2.70%

Easy Save IRAs (No RCU Penalty on Withdrawals)

Invest $5 - $2,499.99
DR:0.50% | APY:0.50%

Invest $2,500 or More
DR:0.60% | APY:0.60%

Variable Rate IRA
(Invest $5 or More)

2 Year Term
(Rate Changes Monthly)
DR:2.08% | APY:2.10%

Mini-Jumbo IRAs
(Invest $50,000 or More)
1 Year Fixed Rate
DR:1.93% | APY:1.95%

18 Month Fixed Rate
DR:2.37% | APY:2.40%

30 Month Fixed Rate
DR:2.52% | APY:2.55%

DR= Dividend Rate
APY= Annual Percentage Yield

Rates current as of 11/21/2009. Last changed on 07/09/2009.
Rates are subject to change at any time without notice. Substantial penalty for early withdrawal.

Traditional IRA

Eligibility—Anyone under age 70 1/2 who has earned income

Annual Contribution—Total of all 2008 IRA contributions cannot exceed $5,000 or 100% of earned income, whichever is less for any tax year. If you are over 50 years old, your annual contributions cannot exceed $6,000.

Tax Benefits—Certain contributions are tax deductible. Interest is tax deferred.

Withdrawals—(IRS Penalty Free Options):

For qualified educational expenses
For first-time home purchase
At or after age 59 1/2
If you become disabled
For qualified medical expenses
For payment of health insurance premiums
while unemployed
Upon your death

Roth IRA

Eligibility— No maximum age, anyone who has earned income and does not exceed the Maximum income limit is eligible.

If your MAGI (Modified Adjusted Gross Income) falls within the phase out range below you will need to calculate how much, if any, you can contribute to a ROTH IRA. Phase out range for 2008 ROTH IRA contributions are:

Single: $101,000 - $116,000
Married (filing joint): $159,000 - $169,000
Married (filing separate tax return): $0 - $10,000

Contribution Limits —Total of all 2008 IRA contributions cannot exceed $5,000 or 100% of earned income, whichever is less for any tax year. If you are over 50 years old, your annual contributions cannot exceed $6,000.

Tax Benefits— Account grows tax deferred, and with Qualified distributions, tax free.

Withdrawals—Withdrawals of contributory principal are always tax-free and IRS penalty free at any age. Interest distributions are tax-free for qualified withdrawals. Required Minimum Distributions (RMD) are NOT required on Roth IRA's at age 70.5.