Retirement/Educational Accounts

Individual Retirement Account (IRA)

Colony Bank IRAs provide one of the safest ways to save for retirement, since they are FDIC insured and offer steady returns.

• IRAs also provide tax advantages for your long-term retirement savings.
• Start contributing now and let your money grow for your benefit.
• Colony Individual Retirement Term Account is a fixed market rate IRA
• $500 minimum opening deposit
• Variety of terms available
• Interest compounds monthly
• Interest can be paid monthly, quarterly, semi-annually, annually
• Includes Traditional, Roth and Coverdell Education Savings Accounts (ESA), Savings Incentive Match Plans for Employees (SIMPLE), and Simplified Employee Pension (SEP)
• Penalty for early withdrawal, except withdrawals made in accordance with IRS distribution