First House or Dream Home
Pocket Mortgage makes it quick and easy to apply for a home loan. Mortgage Loan Details
There are short-term and long-term investment options when it comes to your retirement. Community Savings Bank has options that will fit your needs.
Certificates of Deposit (CDs)
The longer your term, the better your rate.
Individual Retirement Accounts (IRAs)
- Competitive interest above standard savings rates
- Traditional and Roth IRA options
- No setup fees
- No monthly or annual maintenance fees
- $5,500 contribution limit per year
- Additional $1,000 "catch-up" contribution allowed for ages 50+
- Funds can be used to purchase CDs within IRA
- No minimum deposit to open
When would you like to enjoy your tax advantage? A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.
Traditional IRA
- No income limits to open
- No minimum contribution requirement
- Contributions are tax deductible on state and federal income tax*
- Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
- Withdrawals can begin at age 59½
- Early withdrawals subject to penalty**
- Mandatory withdrawals at age 70½
Roth IRA
- Income limits to be eligible to open Roth IRA***
- Contributions are NOT tax deductible
- Earnings are 100% tax free at withdrawal*
- Principal contributions can be withdrawn without penalty*
- Withdrawals on interest can begin at age 59½
- Early withdrawals on interest subject to penalty**
- No mandatory distribution age
- No age limit on making contributions as long as you have earned income
*Subject to some minimal conditions. Consult a tax advisor.**Certain exceptions apply, such as healthcare, purchasing first home, etc.***Consult a tax advisor.
Coverdell ESA (Education Savings Account)
College isn’t getting any cheaper. That makes saving for your child’s education so important. Our Coverdell Education Savings Account (ESA) provides a safe, tax-free place to set funds aside — and earn competitive interest.
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Set aside funds for your child's education -
No setup or annual fee -
Dividends grow tax-free -
Withdrawals are tax-free and penalty-free when used for qualified education expenses* -
Designated beneficiary must be under 18 when contributions are made -
To contribute to an ESA, certain income limits apply** -
Contributions are not tax deductible -
$2,000 maximum annual contribution per child -
The money must be withdrawn by the time he or she turns 30*** -
The ESA may be transferred without penalty to another member of the family -
$250 minimum deposit to open
**Consult your tax advisor to determine your contribution limit.
***Those earnings are subject to income tax and a 10% penalty.
We've got your needs covered
Not finding what you're looking for? Shoot us a message, locate our branch nearest you or call our toll-free number at 800.828.2318!
