INDIVIDUAL RETIREMENT ACCOUNTS (IRAs)

Chances are an IRA is something you realize is a critical part of your financial future. Copiah Bank offers two great choices. Both are reserved for retirement, earn interest and traditional IRAs are tax deferred. *Please consult with your tax professional to ensure that you choose the option that is best for your financial future.

Traditional IRA

A traditional IRA allows anyone under the age of 72 to contribute pre-tax income toward investments. Unlike a Roth IRA, a traditional IRA does not have an income requirement, and it is tax-deferred when the individual or beneficiary makes a withdrawal.

Roth IRA

A Roth IRA is an individual retirement account that offers growth and withdrawals into retirement tax free. Unlike a traditional IRA, you pay taxes on the investment dollars you put in on the front end. And, as long as you’ve had the account for over five years and are over 59 ½ years old, you can withdraw the money in your Roth IRA without owing federal taxes at that time.

CERTIFICATE OF DEPOSITS (CDs)

Looking for one of the most secure ways to save your money? A certificate of deposit (CD) is a product that allows you to save your money for an extended period of time, generally increasing the rate as the length of time increases. Copiah Bank offers great rates on CDs to give you high returns, and we even offer promotions from time to time, so be sure to contact us to get the best rate for your CD.