IRA (Individual Retirement Account)

Save for retirement and enjoy certain tax advantages with an IRA. As your community bank in West Virginia, we’re dedicated to helping you reach your savings goals. Open an IRA today by calling us at 304-876-9000, sending us an email, or visit one of our convenient locations in West Virginia or Maryland.



What is an Individual Retirement Account?

An IRA is a tax-advantaged investment account that can help you save for retirement. Your contributions are untaxed, up to the annual limit. And interest earned on your IRA compounds, helping you grow your nest egg over time.

 

Features of an IRA

  • The IRS sets annual contribution limits for IRAs. For 2024, the limit is $7,000.
  • If you’re age 50+, you can make an additional $1,000 “catch-up contribution.”
  • Beginning at age 59 ½, you can withdraw funds from your IRA without penalty.

 

Benefits of an IRA

  • Reduce your overall taxable income by contributing to an IRA.
  • Enjoy tax-deferred, long-term growth.
  • Flexibility to choose investments that match your risk tolerance, including stocks, bonds, and CDs.
  • Gain peace of mind in knowing you’re working towards a more secure retirement.

How to Open a Retirement Savings Account

Visit one of our convenient locations in Shepherdstown, Martinsburg, Charles Town, Inwood or Sharpsburg. You’ll need to provide basic personal information and a state-issued photo ID. Have questions about our IRAs? Give us a call at 304-876-9000 or send us an email and we’ll be happy to help. Open an IRA account today!



Rates

Secure your retirement with our Retirement Savings account. Click here for our rates!

Complimentary Services

This one’s on us! Services that are available to you at no charge, courtesy of JSB.












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