Individual Retirement Account
Custodial account established for individuals for retirement purposes, available in the form of a statement savings or a 12 to 60 month certificate of deposit.
- Minimum deposit of $500 for CD and $50 for statement savings
- CD carries a fixed interest rate for term; variable rate on statement savings
- Interest compounded quarterly on CD and monthly on statement savings
- May have tax benefits (consult your tax advisor)
“A penalty will be imposed for early withdrawal.”
- Transaction fee by ATM owner, other than River Community Bank, N.A. may also apply.
- Normal approval required.
- Transfer/Withdrawals from your account are limited to four per month or statement cycle.