Community First Bank for loans, mortgages in Fairview Heights, Swansea, Belleville, O'Fallon

An Individual Retirement Account (IRA) from Community First Bank is one of the most sensible investments for your future you can make. An IRA is a personal savings plan which allows you to set aside money and accumulate funds for retirement, while offering you tax advantages. IRA CDs are the mainstay for many retirement strategies. By adding a fixed rate certificate of deposit to your plan, you can increase your savings with predictable interest earnings. At Community First Bank, with interest rates this great; saving for retirement has never been easier. Your Community First Bank IRA CDs are insured by the FDIC and are insured separately from your other Community First Bank deposit accounts. (Check out FDIC EDIE site link below)

Note: A substantial interest penalty, as required by law, may be charged for early withdrawals from an IRA.

Traditional IRA CD Features:
A Traditional IRA CD is the perfect choice for anyone looking for a safe, secure way to save for future retirement. Withdrawals from an IRA may be made without penalty after reaching age 59½. These FDIC-insured instruments are among the safest retirement investments available.

                  Earnings are tax-deferred
                  Flexibility in how you invest
                  Fixed rate and fixed term
                  Competitive interest rates
                  Your contributions may be tax-deductible (consult your tax adviser)
                  FDIC-insured

Minimum Opening Deposit
$1,000: IRA CD

Account Specifications

Individuals who are under 70½ years of age for the entire tax year and who have earned compensation or have received alimony may contribute.

A total of $5,000 may be deposited into an individual's IRA accounts for the 2012 tax year and $5,500 for the 2013 tax year. For individuals age 50 or over an additional catch-up contribution of $1,000 may be deposited each tax year.

Principal and interest taxed when withdrawn (consult your tax adviser).

Interest compounded quarterly.

IRS penalty free withdrawal not allowed before age 59½.

Roth IRA CD Features:
With a Roth IRA, your earnings aren't merely tax-deferred - they're tax free. You won't be subjected to taxes, ever, if you meet IRS eligibility guidelines. Open your Community First Bank’s Roth IRA CD with as little as $1000 and take advantage of the unique benefits of a Roth IRA. All our Roth IRAs are FDIC-insured — a risk-free investment.

Tax-free earnings (consult your tax adviser)

Flexibility in how you invest

Fixed rate and fixed term

Competitive interest rates

FDIC-insured

Minimum Opening Deposit
$1,000: Roth IRA CD

Account Specifications

Unlike the Traditional IRA, Roth IRA participants may continue to make contributions after they have reached age 70½. Individuals who have earned compensation or have received alimony may contribute to a Roth IRA provided that their income falls within prescribed guidelines. (see IRS Publication 590-Individual Retirement Arrangements for details)

A total of $5,000 may be deposited into an individual's IRA accounts for the 2011 tax year and $5,000 for the 2012 tax year. For individuals age 50 or over an additional catch-up contribution of $1,000 may be deposited.

After five years, you may withdraw earnings tax-free for a first-time home purchase (see IRS Publication 590-Individual Retirement Arrangements for details)

Interest compounded quarterly.

At Community First Bank, we can help you choose the individual retirement account (IRA) CD that works best for you. Call today (618) 234-9500. We look forward to being of service to you!

Coverdell Education Savings Account CD Features:
With the costs of college tuition rising steadily, a Coverdell Education Savings Account (formerly Education IRA) may be a great, tax-advantaged way to save for a child’s future. You don’t have to be the child’s parent to contribute to the account—grandparents, aunts, uncles, and friends may contribute as well. It's never too early to start building a college fund. With a Coverdell Education Savings Account, you can invest up to $2000 a year for each beneficiary (under the age of 18) - and all of the earnings are tax-free.

Tax-free earnings

Fixed rate and fixed term with an IRA CD

FDIC-insured

Interest compounded quarterly

Minimum Opening Deposit
$1,000: Coverdell Education Savings Account CD

Account Specifications

Distributions may be penalty free and federal income tax free.

Distributions may only be used for qualified higher-education expenses such as tuition, fees, books, room and board, transportation, supplies, uniforms, and technology and equipment

Contributions must be made before the beneficiary turns 18

See IRS Publication 970, Tax Benefits for Higher Education for more information and details

This information is intended to provide general information concerning IRAs. It is not intended to provide legal advice or to be a detailed explanation of the regulations covering these accounts, or how they may apply to your individual circumstances.Since IRA accounts are influenced by tax laws, consult with your tax advisor about the eligibility and deductibility of contributions and other tax benefits.

Electronic Deposit Insurance Estimator (EDIE)

The Federal Deposit Insurance Corporation has available an Electronic Deposit Insurance Estimator--"EDIE". EDIE is a user-friendly Internet application that can calculate deposit insurance for users.

EDIE will guide you through some questions about deposit accounts and then will print out a report clearly showing the amount of insurance coverage for those accounts. EDIE is designed to allow even novice computer users the ability to get accurate statements of deposit insurance coverage. Click here to go to the EDIE site.