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Routing Number:  051403957

Individual Retirement Accounts

Photo of older couple taking a selfie snaphotCarter Bank & Trust's Individual Retirement Accounts are a way to save for retirement or education. IRAs are invested in certificates of deposit with maturity dates ranging from one to five years.

Traditional IRA

  • Tax deductible contributions
  • Tax deferred earnings
  • Mandatory distributions at age 70 1/2
  • Ability to make contributions until age 70 1/2 with earned income

Roth IRA

  • Non-deductible contributions
  • Tax free savings
  • No mandatory distributions
  • No age limit to make contributions
    with earned income

Coverdell Education Savings Account

  • Non-deductible contributions
  • Tax free earnings
  • Designated beneficiary must be under the age of 18
  • For primary or secondary education

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