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IRAs

Opening an Individual Retirement Account (IRA) with True North can be a great step on your retirement journey!

WOMAN WITH HAPPY DOG OUTSIDE

Your True North IRA can include both savings and certificate options!

  • Competitive dividend rates 
  • Contribute by direct transfer, rollover, lump sums, or regular monthly transfers
  • Open an IRA Share Account to begin saving 
  • Invest in IRA Certificates of Deposit, which deliver guaranteed returns with locked in rates.
  • Minimum deposit of $500. Terms 6 to 36 months.
  • Withdraw without penalty before retirement age for things like medical expenses, higher education or home purchase*

Account Types

  • Traditional IRA*
    ○ Defer taxes on your earnings until withdrawn
    ○ Certain contributions may be tax deductible
  • Roth IRA*
    ○ Contribute with already taxed dollars
    ○ Contributions are not deductible
    ○ Withdrawals may be free from federal income tax if certain conditions are met
  • SEP IRA*
    ○ Employer sponsored and funded retirement account with higher limits than traditional IRA accounts
    ○ Defer taxes on your earnings until withdrawn
  • Coverdell Education Savings Account*
    ○ Increase investment earnings through tax deferral as long as the funds are used for a minor’s education expenses
    ○ Tax-Deferred
    ○ Withdrawals may be tax free
    ○ Family Income limitations may apply

Rates  Savings Calculator 

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*Before opening any of these accounts, please consult your tax advisor to understand how these accounts will impact your taxes today and in the future. Each account type provides opportunities to create a personal financial plan or supplement and diversify your portfolio.

Additional products & resources

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Financial Wellness Center
Money Market Accounts