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Personal Banking -Retirement/IRAYour retirement is an important part of planning for your future. Understanding where you are is the first step to defining where you want to go. We offer Individual Retirement Accounts (IRAs) that can be invested in Certificates of Deposit (CDs), giving you flexibility, control and the security that comes with a CD, which isn’t subject to the market fluctuations like stocks and bonds.

Traditional IRA CD

A Traditional IRA invested in a CD allows you to make tax-deductible contributions and defer taxes on your investment’s earnings as you save for your retirement. Depending upon your age, income requirements and federally regulated annual contribution limits, the deposits you make to your Traditional IRA CD may be tax deductible. And with the tax-deferred interest you can earn with a Traditional IRA CD, you won’t pay tax on your earnings until you make a withdrawal.*

Talk to us about opening a Traditional IRA


A Roth IRA invested in a CD allows you to make deposits today without an immediate tax deduction, and defers taxes until you make a withdrawal. If you meet the requirements for a qualified withdrawal, your withdrawals from your Roth IRA CD may be tax-free.*

That is, once you reach age 59-1/2, you can make tax-free withdrawals to liquidate your Roth IRA CD, so you would never pay taxes on your Roth IRA income. So while you may not deduct contributions from your yearly income tax as you do with a Traditional IRA CD, you may benefit by not paying taxes on your Roth IRA CD withdrawals.* You may want to discuss the benefits of having multiple Roth IRA CDs unless you want to withdraw all of your money at once. Your CFG representative can discuss these options with you based on your personal objectives.

Talk to us about opening a Roth IRA

* Consult your tax advisor on the benefits of IRAs. A penalty may be imposed by the bank for early withdrawal. Federal penalties may also apply.