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Individual Retirement Accounts
(IRAs) allow customers to put aside money every year in a tax-sheltered retirement plan.
Interest earned on the account is tax-deferred until the funds are withdrawn after
age 59 1/2. There is an IRS penalty if funds are withdrawn before that age unless the
money is used to cover certain qualifying expenses. Keep these benefits in mind when
setting up your IRA: |
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- American Federal does not charge a set-up, disbursement or annual
fee.
- American Federal funds IRAs with certificates of deposits which have
a guaranteed, fixed interest rate.
- Customers can choose to deposit a lump sum into their IRA or make
monthly contributions. There is no minimum monthly deposit requirement for
monthly contributions.
- IRA certificates of deposit have maturities ranging from six months
to five years with higher interest rates for longer maturities.
- FDIC insured.
- American Federal's IRA certificates of deposit are automatically
renewable so you don't have to keep tabs on the account.
- Annual, comprehensive statements keep you informed on the progress of
your investment account.
- Customers can direct deposit to any 182-day to 18-month IRA
certificate of deposit.
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215
N. Fifth St.
P.O. Box 2946
Fargo, ND 58108-2946
(800) 770-6605 |
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www.americanfederalbank.com
©1998 American Federal Bank
All Rights Reserved
Member FDIC
Equal Housing Lender
An Equal Employment Opportunity
and Affirmative Action Employer
Customer Privacy |
