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At Community First Bank, we believe in putting your financial future first. Individual Retirement Accounts (IRAs) offer a smart, tax-advantaged way to build long-term savings, and our team is here to help you make the most of these opportunities with personalized guidance and hometown service.

Tax Advantages of IRAs*

One of the biggest benefits of IRAs is their tax advantages, which come in two primary forms:

• Traditional IRA: Contributions may be tax-deductible, reducing your taxable income for the year. Your savings grow tax-deferred, meaning you won’t pay taxes on earnings until withdrawn during retirement—potentially at a lower tax rate.
• Roth IRA: Contributions are made with after-tax dollars, meaning they are not tax-deductible. However, qualified withdrawals, including both contributions and earnings, are tax-free in retirement, providing significant long-term benefits.

Not sure which is right for you? Our local banking experts are happy to sit down with you and discuss the best option for your financial goals.

Contribution Limits & Deadlines

The IRS set these annual contribution limits:

• $7,000 per year for individuals under 50
• $8,000 per year for those 50 and older (includes a $1,000 catch-up contribution)
• You have until April 15, 2025, to make contributions for the 2024 tax year.

Why Choose Community First Bank for Your IRA?

At Community First Bank, we’re more than just a financial institution—we’re your financial partner. When you open an IRA with us, you’ll benefit from:

✅ Local, personalized service — talk to a real person who understands your goals.
✅ Competitive rates — make the most of your hard-earned savings.
✅ Flexible investment options — tailor your IRA to fit your retirement strategy.
✅ Ongoing support — we’re here to guide you every step of the way.

Start Saving for Tomorrow, Today!

Whether you're opening your first IRA or making catch-up contributions, Community First Bank is ready to help you navigate your retirement savings with friendly service.

Stop by your nearest branch or give us a call to get started. Let’s build your future—together.

*Certain exceptions may apply, consult with a tax professional to understand your personal tax situation.