• Available in 12, 18 and 60 month terms
• Those who qualify under federal law receive tax advantages
• Rollovers from other qualified programs are welcome
• You can use payroll deduction to automatically add to your IRA every payday
• Automatic renewal available
• Able to designate beneficiary

Regular IRA

• Contribute funds for retirement savings
• Allows limited access to retirement savings
• Your contributions are deductible if you meet your adjusted gross income limit
  
  Other key points
• Funds withdrawn before maturity date will be assessed a penalty equivalent to 90 days of dividends earned
• You must have earned income to contribute
• You can contribute up to the year you turn 70 1/2
• No penalty withdrawals available after 59 1/2
• The maximum annual contribution is $4000
• If you are over 50 years old, you can contribute $1,000 in addition to the $4,000 as a "catch up"
• You must take distributions the year you turn 70 1/2
• Taxes are assessed on distributions

Roth IRA

• Contribute funds for retirement savings
• Funds may be used for qualified educational expenses
• Funds may be used for the purchase of a first home
  
  Other key points
• Funds withdrawn before maturity date will be assessed a penalty equivalent to 90 days of dividends earned
• You must have earned income to contribute
• No minimum or maximum age limits
• No mandatory distribution age
• Maximum annual contribution is $4,000
• If you are over 50 years old, you can contribute $1,000 in addition to the $4,000 as a "catch up"
• You can withdrawal principal without IRS complications
• Not available for share certificate loans