Traditional & Roth IRAs
- The maximum contribution for a Traditional or Roth IRA is $6,500.00 for the 2023 tax year.
- IRA owners who are 50 or older can contribute an additional $1,500.00.
FDIC Insurance Coverage on your IRA is $250,000
Your deposits in a variety of retirement accounts at our insured institution are combined and insured to a maximum of $250,000. This applies to FDIC insured retirement deposits. Other categories of accounts you have on deposit at our institution will be insured to $250,000 separately from your retirement accounts. If you have questions about maximizing your deposit insurance coverage, ask to speak to one of our representatives.