Individual Retirement Account

Individual Retirement Account (IRA)

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.”

  1. Transaction fee by ATM owner, other than River Community Bank, N.A. may also apply.
  2. Normal approval required.
  3. Transfer/Withdrawals from your account are limited to four per month or statement cycle.