Traditional IRA

  • Individuals must have earned income and file a tax return to open a Traditional IRA
  • Maximum contribution is $6,000 under age 50 and $7,000 age 50 and over
  • Contributions may be tax deductible or non-deductible
  • Interest earned is tax deferred
  • Regular contributions stop at age 70 1/2
  • Required minimum distributions begin at age 70 1/2
  • Contribution deadline is the tax filing deadline - no extensions
 

Switch to Elk State Bank

Switching banks has never been easier. Access our new account form here.

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Lost or Stolen Debit Card?

To report a lost or stolen debit card call (888) 297-3416

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Holiday Spending Simplified

Simple budgeting throughout the year can provide you extra cash for the holidays. Open a Christmas Club account today.

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