Phone: 413-586-1300 or 800-644-8261

Individual Retirement Accounts (IRAs)

There's plenty of debate on a lot of topics in life. But one has unanimous agreement: the sooner you begin preparing for retirement, the better.

Florence Savings Bank offers Traditional, Roth, and Education IRAs that each offer excellent tax benefits. Most importantly, though, is the peace of mind that your future financial security is FDIC and DIF insured with a community bank you can trust.

And, don't forget to visit Retirement Central for comprehensive, easy-to-understand information that will help you focus on the financial issues pertinent to your current circumstances.

Summary

Open an IRA with FSB with as little as $10
Interest compounds monthly
Penalty for early withdrawal*
Wide range of options and terms
Traditional IRA: Tax-deferred interest earnings until withdrawal
Roth IRA: Tax-free interest earnings upon withdrawal
Education IRA: Tax-free distributions for qualified education expenses

*There are some exceptions to make early, penalty-free withdrawals from your IRA, such as medical expenses not covered by insurance, purchasing a first home, higher education expenses, and more.

IRA Certificates of Deposit

Available terms: 12, 18, 36, and 60 months
No monthly or annual fees
Minimum deposit of $500 to open
Guaranteed interest rate for the term of the certificate
Funds may be added at maturity
As with most CDs, there may be a penalty for early withdrawal
FSB link Online Banking

Statement Savings IRA Account

Minimum deposit of $10 to open
Variable interest rate
No monthly or annual fees
Option to make additional deposits of any amount at any time
Monthly statement for accurate record keeping
FSB link Online Banking