Individual Retirement Accounts (IRAs)

Supplement Your Retirement Income
with an IRA

Community National Bank can help you supplement your retirement income with an IRA. We offer both Traditional and Roth IRA products.

Traditional IRA's, Roth IRA's and CESA
CLICK HERE for INFORMATION

TRADITIONAL IRA
The Traditional IRA allows you to defer taxes on the earnings on your contributions until they are withdrawn. In addition, certain contributions are tax deductible in the tax year for which you make them.*

ROTH IRA
The Roth IRA allows only nondeductible contributions and features tax-free withdrawals for certain distribution reasons after a five-year holding period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, if you expect to be in a higher tax bracket when you retire, you may benefit more from a Roth IRA than from a traditional IRA.*

EDUCATIONAL COVERDELL EDUCATION SAVINGS (CESA)
A CESA is a non-deductible account that features tax-free withdrawals for a very specific purpose, a child’s education expenses.

TERMS
We offer Certificate of Deposit IRAs with terms ranging from 90 days to 5 years.

See how much you can save for retirement with our Traditional IRA calculator

Contact your local branch or e-mail us at webinfo@cnbny.com to learn more about the benefits of an opening IRA.

*See your tax or legal professional for help in determining eligibility.