First National Bank of Chester County


Thursday, November 20, 2008

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IRA's & CESAs

IRA's
Individuals planning for retirement, or who are already in retirement, will find that our IRA services can help them reach their goals. Arrangements include:

Traditional IRA - The traditional IRA is an account that allows you to defer taxes on your earnings until they are withdrawn. Also, certain contributions are tax deductble in the tax year for which they are made. You can choose from several IRA options.
Roth IRA - The Roth IRA is a non-deductible account that features tax-free withdrawals for qualified distributions after initial five year holding period.
Rollover IRA

	Fixed Rate CD	18 Month Fixed Rate Statement	18 Month Variable Rate Statement
Interest Rate	Locked in Rate	Locked in Rate	Refer to current rate sheet
Minimum Deposit	$250.00	$50.00	$50.00
Terms	6 months to 10 years	18 month	18 month
FDIC Insured	IRA Plan insured separately from other accounts up to $250,000.00	IRA Plan insured separately from other accounts up to $250,000.00	IRA Plan insured separately from other accounts up to $250,000.00
Penalties	Penalties may apply if under 59 1/2 years old	Penalties may apply if under 59 1/2 years old	Penalties may apply if under 59 1/2 years old
Account Statement	Annually	Quarterly	Quarterly

View Current Rates

CESAs (Coverdell Education Savings Account)
A non-deductible custodial account that allows contributions for the education expenses of a child. Distributions for qualified education expenses are tax-free.

	CESA 18 Month Fixed Rate Statement	CESA 18 Month Variable Rate Statement
Interest Rate	Locked in Rate	Refer to current rate sheet
Minimum Deposit	$50.00	$50.00
Terms	18 month	18 month
FDIC Insured	CESA Plan insured separately from other accounts up to $100,000.00	CESA Plan insured separately from other accounts up to $100,000.00
Penalties	Penalties may apply	Penalties may apply
Account Statement	Quarterly	Quarterly

View Current Rates


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