CDs & IRAs

American Community Bank’s certificates of deposit are ideal for individuals that want to take advantage of higher long-term interest rates or plan ahead for the perfect retirement by opening a Traditional or Roth IRA today.

CDs

Features

  • Competitive Interest Rates
  • Terms from 3 Months to 5 Years
  • Minimum Balance to Open $1,000
  • FDIC Insured

Personal IRA Accounts

Both IRA Plans offer tax advantages that differ based on when you receive the benefits. Start earning competitive interest right away. Plan today; relax tomorrow with an American Community Bank. Flexible Savings Options available. Choose from either Liquid Savings Account or Timed Deposits.

  • Statement Savings Account with monthly E-Statements
  • C.D. Terms ranging from 3 Months to 5 years
  • Traditional and Roth IRA options
  • No setup charges
  • No monthly or annual maintenance charges

Traditional Vs. Roth

There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA

  • No income limits to open
  • No minimum contribution in any year allowing flexibility
  • Contributions may be tax deductible on state and federal income tax*
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals at age 73

Roth IRA

  • No minimum amount to set up
  • Income limits to be eligible to open Roth IRA***
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal*
  • Qualified Withdrawals on dividends can begin at age 59½
  • Early withdrawals on dividends subject to penalty**
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income

Subject to some minimal conditions. Consult a tax advisor.

**Certain exceptions apply, such as healthcare, purchasing first home, etc.

***Consult a tax advisor.