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Individual Retirement Accounts

Penn Security Bank offers both fixed and variable rate IRAs. Traditional IRAs may be converted to Roth IRAs depending on the owner’s financial circumstances. Other details on IRAs are available at any of our branches.

Individual Retirement Accounts (IRA)

IRAs

IRAs provide a means by which an individual may save for retirement. Contributions to the traditional IRA may be tax deductible and interest on the IRA is not taxable until withdrawn.  

For more information DOWNLOAD our IRA Newsletter.

 

 

Roth Individual Retirement Accounts (IRA)

Roth IRAs

Roth IRAs are Individual Retirement Accounts resulting from contributions of after-tax dollars. Withdrawals from Roth IRAs are income tax free. To be eligible to contribute to a Roth IRA, the individual and their spouse must satisfy certain rules regarding taxable income.