Individual Retirement Account (IRAs)

IRAs or Individual Retirement Accounts are a great way to save for retirement.  FORUM offers three types of IRAs including Traditional, Roth, and Educational depending on your specific retirement saving or education savings needs.  Contributions to your IRA and earnings on your IRA may have tax benefits.  Consult a tax advisor for your specific situation.


Types of IRAs

Traditional IRA:

• Tax-deferred earnings
• Contributions may be tax-deductible

Roth IRA:

• Earnings may be tax free
• Contributions are not tax-deductible

Coverdell Education Savings Account:

• Withdrawals for qualified educational expenses are tax free
• Contributions are not tax-deductible

IRA Deposit Options

IRA Savings

• Tiered rates with the flexibility of regular contributions or lump sum deposits

IRA Certificate 

• Rates vary with term and CDs provide the security of guaranteed rates

Liquid IRA Account

• Five year certificate that allows for deposits any time during the year
• Opportunity to increase your rate when deposits of $1,000 or more are made January 1st through April 15th
• Allows all of your IRA funds to be in one certificate and to have annual rate increase opportunities