CDs & IRAs

Certificates of Deposits

• Flexible Terms for up to 5 years; you may not make additional deposits
• Minimum deposit of $5,000 for terms up to 91 days
• Minimum deposit of $1,000 for terms 182 days and greater
• Interest begins to accrue on the business day you deposit
• Interest can be credited to the CD, deposited to an Alden State Bank account or disbursed by check
• Interest can be paid monthly, quarterly, semi-annually or at maturity
• Interest Rates are fixed during the term of the CD
• Automatically renewable
• Penalties for early withdrawal may apply
• Online Banking with 24 hour access
• Deposits are insured by the FDIC

Individual Retirement Accounts (IRAs)

• Guaranteed fixed interest rate - See our CD interest rates for IRA interest rates
• Flexible Terms for up to five years• Direct Rollovers and Transfers from other IRAs
• Traditional, Roth, SEP, and Educational IRAs are available
• Penalties for early withdrawal may apply
• Automatically renewable
• Interest is compounded and credited to the CD monthly
• Interest begins to accrue on the business day you deposit
• At age 59 1/2 owner can elect to have money distributed; at age 70 1/2 mandatory distributions are required or a 50% excise tax is assessed
• Maximum annual contributions may apply
• Check with your tax advisor for your best option
• Online Banking with 24 hour access
• FDIC insurance up to $250,000 (this is separate from other deposit accounts)
• Deposits are NOT invested in stocks, bonds, mutual funds, etc. IRAs are CDs ONLY