Individual Retirement Accounts – IRAs
With a Traditional IRA, you make contributions with money you may be able to deduct on your tax return. Any earnings potentially grow tax-deferred until you withdraw them.
With a Roth IRA, you make contributions with money on which you've already paid taxes. Your money can then potentially grow tax-free, with tax-free withdrawals at retirement, provided that certain conditions are met.
You can select the term that best meets your financial needs.
Hancock County Savings Bank is not providing professional tax advice. You should consult a tax professional regarding tax consequences of any account, including an IRA.
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