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Important Notice
UB Bancorp, the holding company for Union Bank, has agreed to merge with FNB Corporation. Read the Press Release HERE.

Personal Certificates of Deposit and IRAs

Secure your future or plan ahead with a Cerficiate of Deposit (CD) or an Individual Retirement Account (IRA) from Union Bank. Meet with our investment specialists to discuss your options, and we’ll work together to create a plan that’s right for you. 

Whether your defining your future and your legacy or simply trying to protect your investment and improve your return, our experienced team is ready to help.

CERTIFICATES OF DEPOSIT (CDs) AND IRAS

i r a eggs in nestA CD is a type of savings account that typically earns higher interest than a traditional savings or checking account in return for keeping the money in the account for a set term. They are considered one of the safest investment you can make.

Traditional CDs are the most common type. With these, you are paid a fixed interest rate for a fixed period of time. Considered a low-risk investment, traditional CDs are better for shorter-term savings goals and those living on a fixed income. 

If you’re nearing retirement, you may want to consider investing in an IRA CD, which is an IRA where all the money is invested in CDs. This type of account helps diversify your retirement portfolio and ensures dependable income. At Union Bank:

  • Minimum balance to open the account $1,000.00*
  • Terms may vary from 7 days up to five (5) years

*A minimum balance of $1,000.00 should be maintained in the account each day to obtain the disclosed annual percentage yield.

INDIVIDUAL RETIREMENT ACCOUNTS (IRAS) – VARIABLE

It’s never too early to set yourself up for financial stability and grow your retirement savings. IRAs allow you to set aside money for your retirement with certain tax advantages. 

Variable-rate IRAs are popular because the amount of interest earned varies as time goes by and with economic conditions. They can be a Roth IRA (funded with net earnings) or a traditional IRA (funded with pre-tax earnings). 

A variable-rate IRA generally costs less to open and has a lower minimum deposit than a fixed-rate IRA. Another major benefit is that you can make contributions to the account without penalty until it matures. At Union Bank:

  • Minimum balance to open the account is $25.00*

A minimum balance of $25.00 should be maintained in the account each day to obtain the disclosed annual percentage yield.

To learn more about how IRAs work, read our blog.

Looking to Invest in CDs and IRAs?

Opening a CD or IRA is easy with Union Bank. Our investment specialists can help you choose the right savings options to meet your short-term and long-term financial goals. Start investing today and contact your local branch!

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