Certificate of Deposits (CDs)
Choose the term that’s right for you. Enjoy a secure, fixed rate investment option with attractive returns. See new accounts personnel for rates and terms.
Individual Retirement Accounts (IRAs)
It’s never too early to be thinking about retirement. Whether your goal is higher education for your children or retirement for yourself, we offer a product to help you reach your goals.
DWB offers both Traditional and Roth IRAs for your retirement. We encourage you to contact your tax advisor to discuss your tax deductibility status when making retirement decisions.
IRA Comparison Table
|
| Traditional IRA | Roth IRA |
|---|
| FDIC Insured |
Up to $250,000 |
Up to $250,000 |
| Eligible Age |
Before the year in which you turn 70 1/2 |
None |
| Annual Contributions |
Not Required |
Not Required |
| Maximum Annual Contributions |
$5,500
$6,500 for those 50+
|
$5,500
$6,500 for those 50+ |
| Spousal Contributions |
Accepted |
Accepted |
| Contribution Due |
April 15th of the next calendar year |
April 15th of the next calendar year |
| Tax Consequences |
Tax-deferred earning. Contributions may be tax deductible |
Tax-Free distributions at retirement. Contributions are made with post-tax dollars. |
| Distributions |
Must begin by April 1st following the year you reach age 70 ½ |
No mandatory disbursements |
|