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INDIVIDUAL RETIREMENT ACCOUNTS (IRAS)
IRAs are one of the most popular ways to save for retirement. Funds may be added to an IRA each year, and many times, an employee may wish to transfer funds from a current or previous employer's 401K into an IRA. Our Customer Service Representatives will gladly assist you in completing any IRA transactions or in transferring your funds to Citizens Community Bank. The terms on our IRA CDs range from 182 days to 5 years and are automatically renewable. Remember, it is a good idea to make decisions regarding IRA contributions, distributions, and taxes paid on these transactions with the advice of your accountant.
Minimum Balance to Open
Interest Rates are based on current market rates at the time of purchase and are fixed until maturity. Please call us for current available rates. Interest is compounded at maturity on 182 day CDs. It is compounded quarterly on certificates with a maturity of 12 months or greater. Withdrawals with no penalty may be made after you have reached age 59 1/2. Disbursements may be made by check or credited to another deposit account. A penalty may be assessed for early withdrawal.
We also offer an 18-month Variable IRA. The minimum balance required to open a Variable IRA is $50.00. Interest is variable and based on the 6-month T-Bill rate. It changes as frequently as monthly, and is compounded monthly. Withdrawals with no penalty may be made after you have reached age 59 1/2. Disbursements may be made by check or credited to another deposit account. A penalty may be assessed for early withdrawal.