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Individual Retirement Account (IRA)

The best time to save for your retirement is right now while you're still earning income. An IRA offers tax advantages* to help you meet your financial goals.

We offer different IRAs to serve different needs. Talk to a Harleysville Bank representative about which plan is right for you and your family.

  • Save for retirement and enjoy tax advantages*
  • Earn higher interest than regular savings
  • No setup or maintenance fees
  • Annual contribution limits apply
  • Annual $1,000 "catch up" contributions allowed for ages 50+
  • FDIC insured up to $250,000

*Consult your tax advisor

Traditional versus Roth

Traditional IRA
  • Contributions are tax deductible on state and federal income tax*
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Early withdrawals subject to penalty**

*Consult with a tax advisor
**Certain exceptions apply, such as healthcare, purchasing first home, etc.

Roth IRA
  • Contributions are NOT tax deductible
  • Principal contributions can be withdrawn without penalty*
  • No mandatory distribution age

*Subject to some minimal conditions.
**Certain exceptions apply, such as healthcare, purchasing first home, etc.

Coverdell Education Savings Account (CESA)

A Coverdell Education Savings Account (CESA) provides tax-free earnings when the funds are used for a child's education expenses.


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