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Individual Retirement Accounts
A brief description of various IRA products:
Traditional IRA:
An IRA may offer you a tax advantage to set aside money for retirement. Depending on the circumstance, you may be able to deduct part or all of the IRA contribution on your income tax.
- Tax-deferred earnings produce higher growth
- No penalty for early withdrawals for higher education and first-time homebuyers
Roth IRA:
The Roth IRA is a non-deductible account that features tax-free withdrawals for certain distribution reasons after a five-year holding period.
- Available even if you are covered by a retirement plan
- Liberal withdrawal provisions after age 59½
All First Northern Bank & Trust IRAs are invested in First Northern Bank & Trust CDs.
The APR is accurate as of February 3, 2015.
See Also: Mortgage Rates | Consumer Loan Rates | Deposit Rates
| Account Type | Annual Percentage Yield (APY) | Interest Rate | Minimum Deposit to Open Account | Minimum Balance* to Obtain APY |
|---|---|---|---|---|
| 91 Days CD*** | 0.05% | 0.05% | $1,000.00 | $1,000.00 |
| 182 Days CD*** | 0.25% | 0.25% | $1,000.00 | $1,000.00 |
| 1 Year CD*** | 0.35% | 0.35% | $1,000.00 | $1,000.00 |
| 2 Year CD*** | 0.65% | 0.65% | $1,000.00 | $1,000.00 |
| 2½ Year CD*** | 0.30% | 0.30% | $1,000.00 | $1,000.00 |
| 3 Year CD*** | 1.25% | 1.24% | $1,000.00 | $1,000.00 |
| 3 Year Adjustable*** AVAILABLE | 0.90% | 0.90% | $1,000.00 | $1,000.00 |
| 4 Year CD*** | 1.60% | 1.59% | $1,000.00 | $1,000.00 |
| 5 Year CD*** | 1.90% | 1.89% | $1,000.00 | $1,000.00 |
| 5 Year Kid's CD*** | 2.00% | 1.99% | $1,000.00 | $1,000.00 |
| 1½ Year Variable IRA CD**,***** | 0.35% | 0.35% | $250.00 | $250.00 |
| 5 Year Royal CD**** | 2.00% | 1.99% | $1,000.00 | $1,000.00 |
* Daily Balance (The amount of principal in the account each day)
** The rate may change after the account is opened.
*** A penalty will or may be imposed for early withdrawal of funds.
**** You must have a First Northern Royal or Royal Blue Checking account for this CD.
***** Variable interest rate changes at each 6 month anniversary date. The new rate will be the advertised 1½ year rate at that time.
Fees could reduce the earnings on the account.
Initial deposit account disclosures are available upon request. Please contact us at (610) 826-2239 for copies or more information.
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First Northern Bank & Trust | Fourth Street & Lafayette Avenue Palmerton, PA 18071
(800) 344-2274 | (610) 826-2239 Local | info@1stnorthernbank.com
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