Investing in a certificate will give you the flexibility to choose which way best fits you. This is a safe and simple way to earn competitive rates on your money. Terms can be as short as 90 days or up to 5 years.
3 and 6 Month
The minimum balance to open and maintain this account is $2,500
Dividends are paid at maturity
This account will automatically renew at maturity. You will have a 10 day grace period after maturity to withdraw the funds without being charged a penalty.
Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
12 Month
The minimum balance required to open and maintain this account is $1000
Dividends are paid monthly or quarterly
This account will automatically renew at maturity. You will have a 10 day grace period after maturity to withdraw the funds without being charged a penalty.
The penalty for early withdrawal will equal 90 days dividends on the amount withdrawn
Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
24 - 36 - 48 - 60 Months
The minimum balance required to open and maintain this account is $500
Dividends are paid monthly or quarterly
This account will automatically renew at maturity. You will have a 10 day grace period after maturity to withdraw the funds without being charged a penalty.
The penalty for early withdrawal will equal 90 days dividends on the amount withdrawn
Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
IRA's
A Tri-State Individual Retirement Account (IRA) is your tax-deferred retirement savings plan which offers you both short-term and long-term benefits. By opening an IRA account you will be able to:
- Reduce Taxes
- You immediately begin to earn market rates on your savings
- You are planning for your future both easily and painlessly
At any age, an IRA is your best financial commitment to your future security and peace of mind. Our IRA's are not only for members who are perhaps midway in their working years. What many people don't understand is that an IRA maximizes your current income to its fullest. Tri-State currently offers Traditional, Roth, and SEP IRA's.
Traditional: A traditional IRA is a special savings plan authorized by the Federal Government to help you accumulate funds for your retirement.
Roth: Authorized by the Federal Government, this type of IRA will help you accumulate funds for your retirement. Contributions are non-deductible. All withdrawals, including earnings, are tax-free if the account has been open for five years and the account holder is age 59-1/2 or older.
SEP: Looking for a way to set up a plan for your employee's retirement? An SEP (Simplified Employee Pension) may be suitable for a business that may be new or has variable profits. If may be one of the easiest ways for a small employer to provide employees with a retirement plan. Not to mention that it is an inexpensive, flexible, and convenient way to do so. If you can commit up to 15% of your net income annually, or $24,000, then this type of IRA could work to your advantage.
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