Go to main content
masthead banner

Individual Retirement Accounts (IRAs)

An Impact IRA is a low risk, no stress way to plan for a comfortable retirement.
Competitive Dividends
No setup fee
No monthly or yearly fees

Features & Benefits

  • Potential Tax benefits
  • Competitive dividends above standard savings rates
  • Traditional and Roth IRA options
  • Flexible terms - IRA savings or term certificates
  • No setup fees
  • No monthly or annual maintenance fees
  • $500 minimum deposit to open
  • Free Online & Mobile Banking
  • Free eStatements


Traditional vs. Roth

Traditional and Roth IRA accounts provide tax advantages for retirement savings. Both deliver financial security when you retire.

Traditional IRA

  • Contributions are made pre-tax, reduce in year taxable income
  • Distributions in retirement are taxed as ordinary income
  • Withdrawals of contributions and earnings are taxed
  • Required Minimum Distributions (RMDs) apply

Roth IRA

  • Contributions are made after tax, no effect on in year taxable income
  • Qualified distributions in retirement are not taxed
  • Withdrawals of contributions and earnings are not taxed under certain circumstances
  • No Required Minimum Distributions (RMDs)


Go to main navigation