CD's & IRA's
Each Individual Retirement Account is now insured by
the FDIC up to $250,000.
Traditional IRA and Roth IRA's are available at City
Bank of Hartford.
A traditional IRA allows a customer to deposit a
minimum of $500 and deduct the amount invested
from the taxes paid that year. The taxes will not be
paid until the amount is withdrawn, usually when the
person has retired and is in a lower income bracket.
A Roth IRA does not allow a tax deduction for the
amount deposited during a tax year and there would
be no taxes due when the amount is withdrawn.
To open a new IRA, transfer an existing IRA or to ask