Retirement Accounts

As you move through life, retirement is a goal of everyone's.  In order to fully enjoy your retirement, work now to secure financial stability.  The sooner you start, the more prepared you will be when the time comes.  Take a look at what we have to offer to get you on the right track to a financially secure future.

Individual Retirement Accounts (IRA)

  • Traditional IRA

  •        A Traditional IRA allows you to defer taxes on the earnings on your contributions until they are withdrawn.  Also, certain contributions are tax deductible in the tax year for which you make them. 

    For current rates, contact your local Midwest Bank

  •  Roth IRA

  •             A Roth IRA allows only nondeductible contributions and features tax-free withdrawals for certain distribution reasons after a five-year period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned if you expect to be in a higher tax bracket when you retire, you may benefit more from a Roth IRA than from a Traditional IRA.

    For current rates, contact your local Midwest Bank

  •  IRA CD

  •                  With our IRA CDs, you have control over the term of your investment while retaining all of the benefits of an IRA.  The rates on our IRA CDs are the same as our current CD rates. 
Wondering how much savings is enough?  Click here for our Retirement Calculator...