Roth & Traditional IRAs

A Horizon Community Bank Individual Retirement Account (IRA) is a personal savings plan that provides income tax advantages to individuals (and married couples) saving money for retirement purposes.


You can contribute up to the maximum amount per year into a traditional IRA. The tax deduction for this contribution depends on your Adjusted Gross Income (AGI), and whether you are covered under an employer sponsored qualified retirement plan.

Depending on your filing status (Single, Married, etc), your age, and your adjusted gross income, your contributions may range from 100% deductible to non-deductible.

Consult your tax advisor or financial planner for specific details to address your personal needs.


A Roth IRA is a retirement savings account that provides federally tax-free growth and withdrawals once it has been open for 5 years and you are 59½ years of age.

Consult your tax advisor or financial planner to learn about the differences and requirements of each type of IRA.

  • $1000 minimum deposit to open
  • Maturity terms available from 6 months to 5 years
  • Annual statements
  • Early withdrawal penalties may apply.

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