Individual Retirement Accounts (IRA)
Individual Retirement Accounts (IRAs) is an excellent way to build retirement assets and income. Lumbee Guaranty Bank offers a variety of IRAs including, Traditional, Roth, Education and SEP. Lumbee Guaranty Bank pays a competitive rate of interest on IRAs. For more information on these types of accounts, please contact one of our ten branches.

SERVICE BENEFITS

 A minimum opening deposit of $100 on variable rate IRA

A minimum opening deposit of $500 on fixed rate IRA

Choose from a fixed rate term of 18 months or 36 months, or our 18 month variable rate Insured by FDIC

NOTE: Potential for bank and/or IRS penalty for early withdrawal

IRA's
18-Month Fixed $500.00
36-Month Fixed $500.00

*Federal regulations require a penalty for early withdrawal, including substantial penalties on tax deferred instruments.

*Rates are tiered-higher balance, higher rates.

Temporary Changes to FDIC Deposit Insurance Coverage

The standard insurance amount of $250,000 per depositor is in effect through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except IRAs and other certain retirement accounts, which will remain at $250,000 per depositor.

The FDIC’s temporary Transaction Account Guarantee Program provides depositors with unlimited coverage for noninterest-bearing transaction accounts at participating FDIC-insured institutions. Noninterest-bearing checking accounts include Demand Deposit Accounts (DDAs) and any transaction account that has unlimited withdrawals and that cannot earn interest.

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Pembroke, NC

 
 

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