Traditional IRA
A Traditional Individual Retirement Account is a retirement tool that allows individuals to develop a tax-deferred nest egg. Deduct IRA deposits on your tax return now, and defer taxes until your retirement.

Individuals age 70½ or younger with earned income may contribute up to $5,000 per year to a Traditional IRA. Individuals age 50 or older may be eligible to make an additional catch up contribution of $1,000 per year, as long as they haven't reached their 70½ year. Contributions to a Traditional IRA may be tax-deductible, depending on adjusted income and participation in an employer-sponsored retirement program.

Taxes are deferred until the account begins distribution.

Want to add to your current IRA CD prior to maturity? Tri City National Bank offers an 18-month contributory IRA with an option of either fixed or variable rate. Choosing this product will enable you to make additional deposits to your IRA throughout the year.

Minimum deposit requirements: $100 for in-person deposits and $50 for electronic deposits.

A $25 transfer fee will be incurred to perform an external transfer of an Individual Retirement Account.

Please Contact Us or Locate Us to speak with a bank representative about opening an account.

To find out how much you can save with a Traditional IRA, use our Traditional IRA Calculator.