CD/MM/IRA

CDs

Freedom Money Market Account

• Only $2,500.00 required to open
• FREE Online Banking and Bill Pay – Benefit from secure access to your accounts via the Internet. Monitor and track your accounts, transfer funds 24/7, pay bills, and more!
• FREE 24-Hour Telephone Inquiry – Check your account balance, verify deposits and checks paid, transfer money from one account to another, and access the history of your account from anywhere 24 hours a day.
• E-Statements – Safe and secure online access to your detailed monthly statements and check images.
  Availability of Direct Deposits – a convenient service ensuring on-time deposits of your payroll, Social Security or pension funds with same day access
• Interest paid on tiered basis for balances of $19,999.99 or below and above $20,000.00 and compounded and credited monthly
  A limit of 6 pre-authorized transfers or withdrawals per statement cycle.
• If the transaction limit is exceeded, there is a fee of $10.00 per excess transaction, beginning with the 7th transaction per statement cycle.

IRAs

• To qualify you must have earned income and not have reached the age of 70 ½ by the end of that tax year
• Qualified individuals may contribute at anytime
• There is a maximum contribution per year and also the ability to make catch-up contributions
• Defer taxes on your earnings until withdrawal
• Some contributions are tax deductible

• To qualify you must have earned income, but there are no age restrictions
• Qualified individuals may contribute at anytime
• There is a maximum contribution per year and also the ability to make catch-up contributions
• This IRA is not taxed and earnings grow tax free
• Contributions are not tax deductible

• Distribution qualifications are for educational expenses
• Annual contributions per designated beneficiary are limited
• Earnings grow tax free
• Any amount in excess, after the educational fees are paid, is taxed as earned income
• Contributions are not tax deductible