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IRA’s & Certificates of Deposit

Individual Retirement Account

Reduce your tax liability on your invested funds.  At the First National Bank of Liverpool we offer Traditional, Roth, and Educational IRA accounts:

• Traditional IRA
  The traditional IRA is an account that allows the investor to defer taxes on earnings until funds are withdrawn. Certain contributions are tax deductible in the year they are made. If the investor is under age 70 1/2 for the entire tax year and has earned income, he or she is eligible to establish a traditional IRA.
• Roth IRA
  The Roth IRA is a nondeductible account that features tax-free withdrawals for certain distribution reasons after a five-year holding period. There are two requirements for eligibility to contribute to a Roth IRA: the investor must have earned income and the investor’s modified adjusted gross income can not exceed certain limits.
• Educational IRA
  An interest bearing, tax deferred account for the purpose of saving money for education expenses.

Certificates of Deposit

We offer a variety of CD’s by length of term and balance requirement.  Please see our rate table for details.