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Certificates of Deposit

A Certificate of Deposit allows you to save for a certain period of time at a good fixed rate of interest. Generally the longer the term the higher the rate. FDIC Insurance guarantees Certificate of Deposit accounts, along with other deposit accounts at The First National Bank of Ogden. They are safe and secure.

Click here to see our current CD rates and terms.

* Penalties may apply for early withdrawals.

IRA Accounts

Today, many financial planners and economists say that individuals will need 70 to 80 percent of pre-retirement income to maintain their standard of living at retirement. In addition to Social Security, we must ensure that we have other sources of income at retirement. The IRAs allow you to maximize your savings…minimize your taxes…and make the most of your retirement investment. We have several types of IRAs to fit everyone’s needs.

Traditional IRA
The Traditional IRA is an account, which allows you to defer taxes on your earnings until they are withdrawn. Also, certain contributions are tax deductible* in the year they are made.

Roth IRA
The Roth IRA is a non-deductible account that features tax-free withdrawals for certain distribution reasons after a 5-year holding period. Since Roth IRA contributions are non-deductible and taxed in the year they are earned*, people who expect to be in a higher tax bracket when they retire may benefit more from these accounts that from a traditional IRA.

Coverdell Education Savings Account (CESA)
The CESA is a non-deductible account that features tax-free withdrawals for a very specific purpose – a child’s higher education expenses. Qualified higher education distributions are penalty-free and tax-free*.

* Consult your tax advisor for more information.

The First National Bank of Ogden  •  102 S. East Avenue  •  P. O. Box 47  •  Ogden, IL 61859  •  Ph: 217.582.2175  •  Fax: 217.582.2176
Royal Bank  •  102 N. Park  •  P. O. Box 10  •  Royal, IL 61871  •  Ph: 217.583.3101  •  Fax: 217.583.3102

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