farmbureaubank.com | Individual Retirement Accounts
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Farm Bureau Bank Performace Checking Individual Retirement Accounts

Choose from a CD or a Money Market IRA for secure savings and guaranteed growth. Both are FDIC-insured up to $250,000 per depositor.

Retirement Choices – Different Types for Different Needs

IRA Options Features Contributions Who benefits?
Traditional IRA Tax sheltered retirement option that enables you to defer taxes on your earnings until you withdraw them. Contributions may be tax deductible. $5,000 per year maximum People who expect to be in a lower tax bracket when they retire.

People who are looking for tax deductions and tax-deductible contributions.
Roth IRA Earnings are tax-exempt as opposed to up front deductions, allowing principal to build up quickly.

Withdrawals are tax-free.

No mandatory withdrawal rules.		 $5,000 per year maximum People who are a long way from retiring and expect to be in the same or higher tax bracket at retirement.

People who are expecting to be earning more at retirement.
Coverdell Education Savings Account (formerly known as Educational IRA) Contributions are tax free, but not tax deductible. Designed to help save for educational costs. $2,000 per year maximum People interested in saving for a child's education.

CD IRAs Rates

Certificates of Deposit Specials
Product Interest Rate Annual Percentage Yield*
14 Month CD 1.59% 1.60%
21 Month CD 1.83% 1.85%
31 Month CD 2.52% 2.55%
Minimum Initial Deposit $1,000. CD Rates and Annual Percentage Yields valid for IRAs.

Certificates of Deposit
Balance Interest Rate Annual Percentage Yield*
3 Months
    Jumbo CD   		 0.60%
0.70%		 0.60%
0.70%
6 Months
   Jumbo CD   		 0.85%
0.95%		 0.85%
0.95%
1 Year
   Jumbo CD   		 1.29%
1.39%		 1.30%
1.40%
18 Months
   Jumbo CD   		 1.64%
1.74%		 1.65%
1.76%
2 Years
   Jumbo CD   		 1.64%
1.74%		 1.65%
1.76%
3 Years
   Jumbo CD   		 2.42%
2.52%		 2.45%
2.55%
4 Years
   Jumbo CD   		 2.66%
2.76%		 2.70%
2.80%
5 Years
   Jumbo CD   		 2.91%
3.01%		 2.95%
3.06%
Minimum Initial Deposit $1,000, Minimum for Jumbo CDs >= $50,000. CD Rates and Annual Percentage Yields valid for IRAs.

Certificates of Deposit with Step Up Option
Balance Interest Rate Annual Percentage Yield*
1 Year
   Jumbo CD   		 0.60%
0.70%		 0.60%
0.70%
18 Months
   Jumbo CD   		 1.24%
1.34%		 1.25%
1.35%
2 Years
   Jumbo CD   		 1.29%
1.39%		 1.30%
1.40%
3 Years
   Jumbo CD   		 1.59%
1.69%		 1.60%
1.70%
4 Years
   Jumbo CD   		 1.93%
2.03%		 1.95%
2.05%
5 Years
   Jumbo CD   		 2.18%
2.28%		 2.20%
2.31%
Minimum Initial Deposit $1,000

Money Market IRAs Rates

Balance Interest Rate Annual Percentage Yield*
less than $2,500
   with E-Option   		 0.55%
0.65%		 0.55%
0.65%
$2,500 - $24,999
   with E-Option   		 0.80%
0.90%		 0.80%
0.90%
$25,000 and 49,999
   with E-Option   		 0.90%
1.00%		 0.90%
1.01%
$50,000 and up
   with E-Option   		 1.00%
1.09%		 1.01%
1.10%
Minimum Initial Deposit $250


*Annual Percentage Yield. Interest Rates and Yields shown are effective as of 11/20/2009. Farm Bureau Bank deposit accounts are FDIC insured up to $250,000. Fees could reduce earnings on the account. Interest rates and corresponding APYs may change at the bank’s discretion.

Minimum initial deposit for Money Market IRAs is $250. Federal guidelines restrict withdrawals from Money Market Accounts. Excess withdrawals incur a $5 transaction fee.

CD IRA Highlights

Overview
  • FDIC insured
  • All the benefits and security of a CD, with the tax advantages of an IRA
  • All CD terms available
  • Step-Up option available on CD IRAs that allows a one-time rate increase during the life of the CD term. Give yourself the room to grow your interest.
Minimum Initial Deposit $1,000

Money Market IRA Highlights

Overview
  • Allows multiple contributions
  • Checks available for account holders eligible for distributions
  • Variable interest rate is tiered based on balance
Free E-Option
  • Earn higher interest when you choose to go paperless
  • 24-hour Internet access to Online Statements, Online Bill Pay and Online Transfer Funds
Minimum Initial Deposit $250
Fees $25 penalty for closures not rolled over into another Farm Bureau Bank IRA. Money Market withdrawal restrictions apply.

As with all IRAs, Federal withdrawal restrictions apply and a penalty will be imposed if there is an early withdrawal from the account.



* Rates disclosed as Annual Percentage Rate (APR) and Annual Percentage Yield (APY). Banking services provided by Farm Bureau Bank, FSB. Farm Bureau Bank, FSB is a service to member institution that provides banking services to Farm Bureau members. Services are not available in AL, IL, MI, MO, MS, OH or WY and may not be available in some counties or parishes. Farm Bureau, FB and the FB National Logo are registered service marks owned by the American Farm Bureau Federation and are used under license by FB BanCorp and its subsidiaries, including Farm Bureau Bank FSB. FB BanCorp is an independent entity and the AFBF does not own, is not owned by, and is not under common ownership with FB BanCorp or its affiliated entities.