IRA Savings

Smart Savings for Your Future

IRA Rates

IRA Savings
View All Rates

As High As 0.10% APY*

IRA Savings

A 401(k) account through your employer isn’t the only solution available to you to save for retirement. Our Individual Retirement Accounts (IRAs) let you choose from a variety of solutions to help you maximize your retirement savings and enjoy potential tax advantages and tax savings.

Choose between Roth and Traditional IRAs.
No set-up or annual maintenance fees.
Convenient deposits through payroll deduction and automatic transfers.
Rollover to a self-directed IRA from an employer-sponsored retirement plan.
Direct transfer an IRA from another financial institution.

To open an IRA account, call us at 503.626.6600, or visit a branch.

Schedule an Appointment

Which IRA is right for you?

Features	Roth IRA	Traditional IRA
Contributions	Non tax-deductible	May be tax-deductible
Earnings	Tax-deferred and possibly tax free if you meet eligibility requirements	Taxes are deferred until you begin withdrawing funds
Maximum Contributions	Up to $7,000 for those under 50; $8,000 for those 50+	Up to $7,000 for those under 50; $8,000 for those 50+
Eligibility	No age restrictions. However, contributions may be limited depending on MAGI (Modified Adjusted Gross Income) tables	Anyone with earned income may contribute
Tax/Penalty Consequences	Contributions can be withdrawn anytime without taxes or penalties Earnings can be withdrawn, without taxes or penalties, if you’re at least 59 ½ and your account has been open for 5 years or more	All earnings and deductible contributions are taxable upon withdrawal Penalties will be assessed if withdrawals are taken before age 59 ½, or if withdrawals are not taken by age 73
Distribution Requirements	None	Required minimum distributions upon reaching age 73
Required minimum distributions upon reaching age 72	Some exceptions are made if funds are used for a first-time home purchase, education or certain medical expenses	Some exceptions are made if funds are used for a first-time home purchase, education or certain medical expenses

Frequently Asked Questions

Roth IRA earnings are tax-deferred: Contribute after-tax dollars at any age. Earnings grow tax-deferred and may be tax-free when withdrawn. You pay no taxes on your withdrawals if your account has been open for five tax years and if you’re withdrawing for a qualified reason.
Traditional IRA earnings grow tax-deferred until you begin to withdraw them. But, your Traditional IRA contributions are tax deductible every year that you invest the maximum allowed by law. Tax deferment can be valuable if you expect to pay significantly lower taxes after you retire (and begin drawing on your funds).