CDS & IRAS

You want to keep risk out of your portfolio without the risk of missed opportunities. Our CDs can lock in a competitive interest rate, while our IRA and IRA Roth accounts offer long term advantages. You, however, won’t be locked out of your savings. You can choose CDs with increased liquidity and IRAs with less early withdrawal penalties. Check out the advantages of these time-tested tools for building wealth.

CERTIFICATES OF DEPOSIT

Certificates of Deposit (CDs) are a great way to save while receiving high yielding benefits.

A CD is a special type of deposit account which typically offers a higher rate of interest than regular savings accounts. When you invest in a CD, you lock in your savings for a particular length of time. If you withdraw your funds early, you pay a penalty.

FNB offers several CDs allowing you the opportunity to choose the term that works best for you and how you want to receive interest earned. Minimum deposits range from $500 to $1,000 and terms range from 91 days to 60 months. Contact us for current CD terms and rates.

BETTER ACCESS CD

The Better Access CD is perfect for those who want to maintain a higher rate of return while maintaining the ability to access their money on a monthly basis (two withdrawals per month are allowed). With a minimum $2,500 opening deposit, rates are guaranteed until the first day of the calendar quarter following the account opening date. Better Access CDs pay premium tiered interest rate and are available to individuals or businesses. Contact us for current interest rate and annual percentage yield.¹

TRADITIONAL IRA

A Traditional IRA is a personal savings plan that gives you tax advantages for setting aside money for retirement. These advantages include the potential for tax-deductible contributions, the potential for a tax credit, and the potential for tax-deferred growth. FNB offers a variety of IRA terms from 6 months to 60 months with minimum deposits ranging from $500 to $1,000. The annual contribution limit will vary by age and year and if you earned income during the year and you will not reach age 70½ by the end of the year, you can open a Traditional IRA.² Contact us for terms, rate, and additional information.

ROTH IRA

The Roth IRA provides no deduction for contributions, but instead provides a benefit that isn’t available with any other form of retirement savings.³ If you meet certain requirements, all earnings are tax free when you or your beneficiary withdraws them. Other benefits include avoiding the early distribution penalty on certain withdrawals, and eliminating the need to take minimum distributions after age 70½.

You can establish a Roth IRA by making a regular contribution to a Roth IRA with after-tax dollars or by converting a traditional IRA to a Roth IRA. You may be eligible to make a regular contribution to a Roth IRA even if you participate in a retirement plan maintained by your employer. The annual contribution limit will vary by age and year. One significant advantage of a Roth IRA is that the minimum distribution rules don’t apply. If you’re able to live on other resources after retirement, you don’t have to draw on your Roth IRA at age 70½. That means your earnings continue to grow tax-free. Contact us for terms, rate, and additional information.

Important Information
¹The Better Access CD interest rate and annual percentage yield may change each quarter. You must maintain a balance of $2,500 to obtain the annual percentage yield and avoid the $10 monthly service charge. If you exceed 2 withdrawals per month, there is a $20 charge per withdrawal.
²You can open a Traditional IRA regardless if you are covered by another retirement plan or not. The accumulated interest is not taxed until the funds are withdrawn. When you reach the age of 59½, you can withdraw the funds penalty-free. Penalty-free withdrawals may be used to pay for educational expenses.
³In order to be eligible to contribute to the Roth IRA, you or your spouse must have compensation or alimony income equal to the amount contributed. In addition, your modified adjusted gross income can’t exceed certain limits.

Consult your tax advisor to discuss your individual tax situation.

A penalty may be imposed for early withdrawal.