Traditional and Roth IRAs
Depending on your individual circumstances, you may be able to take advantage of certain tax benefits by making contributions to a Traditional or Roth IRA. Traditional IRAs accept contributions that are tax deferred until funds are withdrawn—generally at retirement. Roth IRAs accept contributions that are taxed when the contribution is made. Please consult your tax advisor on what type of IRA is right for you.
The ADD2IRA is an easy way to save for retirement. The ADD2IRA is a CD that allows you to make multiple deposits to grow your retirement savings. Decide whether you want a Roth or Traditional IRA, then choose how you want to save your funds. Convenient automatic transfers can be set up from your EBANK account at any interval (weekly, monthly, quarterly, etc.), or you can come in to any location to contribute to your ADD2IRA whenever you choose.
Coverdell Education Savings Accounts (CESA)
A CESA can be used to help fund a child’s education. Distributions can be made tax free when the beneficiary (the child) needs to pay for qualified education expenses. Certain tax rules and income limits apply. Please consult your tax advisor on this type of account.