Citizens Financial Bank offers FDIC-insured IRA accounts as a retirement investment. IRA accounts are designed to help individuals save money for a financially secured future. We offer a variety of variable and fixed rate products to meet your financial needs.

• Fixed rate IRA certificates with terms of 3-months to 5-years
• Variable rate non-term Diamond IRA

Retirement Calculators

	Traditional IRA	Roth IRA	Coverdell Education Savings Account (CESA)
Who Can Contribute	Individuals under age 70 1/2 with taxable income	Individuals with earned income **	Anyone can contribute to a CESA for a child under age 18
Maximum Contributions	$4,000 per person*	$4,000 per person*	$2,000 per child***
Earnings and withdrawals	Earnings are tax-deferred Upon withdrawal, earnings and deductible contributions are taxed Contributions may be tax deductible**	Earnings grow tax-deferred and are potentially tax-and penalty-free for qualified withdrawals Distribution is not mandatory at age 70 1/2 and contributions to your Roth IRA may continue as long as you have earned income**	Earnings are tax-deferred Earnings are tax-free if used for qualified education expenses

* Individuals reaching age 50 and above may contribute an additional $1,000, for a maximum contribution of $5,000 for the tax years of 2006 and 2007.
**Eligibility phase-outs may apply, depending on Modified Adjusted Gross Income and tax filing status.
***Contributions are not tax deductible.

Eligibility for making contributions, maximum contributions, earnings, withdrawals and deductions are governed by the IRS. Refer to "IRS Publication 590"† or a tax advisor.