Checking | Savings
| CDs & IRAs | Loans
IRA’s & Certificates of Deposit
Individual Retirement Account
Reduce your tax liability on your invested
funds. At Liverpool Community Bank we offer Traditional, Roth, and Educational IRA accounts:
- Traditional IRA
The traditional IRA is an account that allows the investor to defer taxes
on earnings until funds are withdrawn. Certain contributions are tax deductible
in the year they are made. If the investor is under age 70 1/2 for the
entire tax year and has earned income, he or she is eligible to establish
a traditional IRA.
- Roth IRA
The Roth IRA is a nondeductible account that features tax-free withdrawals
for certain distribution reasons after a five-year holding period. There
are two requirements for eligibility to contribute to a Roth IRA: the investor
must have earned income and the investor’s modified adjusted gross
income can not exceed certain limits.
- Educational IRA
An interest bearing, tax deferred account for the purpose of saving money
for education expenses.
Certificates of Deposit
We offer a variety of CD’s by length of term and balance requirement. Please
see our rate table for details.