At Citizens~Union Savings Bank, we offer an array of individual accounts designed to meet your needs today so you will enjoy a care-free retirement in the years to come. 
To help plan your retirement strategy, we offer the expertise of Kathie Rhodes, a retirement specialist with over 25 years experience in the South Coast community. 

Call Kathie Rhodes Citizens~Union Savings Bank 95 William Street New Bedford, MA 02740 Phone:508-742-4712 or 888-806-2872 Toll Free

IRAs and SEPs

The following retirement accounts are available at any of our branch locations in Fall River, New Bedford, Somerset, Swansea and Seekonk.

Individual Retirement Accounts (IRAs)

• Traditional IRAs
  • Tax-deferred earnings.
  • Tax deductible contributions for those who qualify.
• Roth IRAs
  • Contributions are non tax deductible.
  • Regular contributions withdrawn any time for any reason are free from both Federal income tax and the 10% premature distribution tax.
  • Tax-free withdrawal of earnings if qualified.

With Traditional and Roth IRAs, you can choose either a variable or fixed rate.

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Variable-Rate IRA:

The minimum balance to open the account is $100. You must maintain a minimum balance of $10 in the account each day to obtain the disclosed APY. Interest paid can change monthly.  Fees may reduce earnings on the account.

Fixed-Rate IRA:

Follows our Certificate of Deposit terms and minimums. The interest rate is fixed for the term when the account is opened and is paid monthly.

Simplified Employee Pensions (SEPs)

• Business retirement plan for any type of employer including self-employed individuals with no employees.
• Contributions are made to your IRA.
• Full deductibility.
• Higher contribution limits.
• No age limit.
• Contributions to the plan must be made on or before employer’s tax filing deadline plus extensions.

Savings Incentive Match Plan For Employees (SIMPLE)

• Retirement plan for small businesses with 100 or fewer employees.
• Salary deferral contributions prior to Federal and State Taxes.
• Tax deferred until distribution.
• Contribution limits adjusted annually by cost-of-living adjustments.
• Calendar year contributions.

Coverdell Education Savings Account (CESA)

• Nondeductible contributions for education expenses.
• Tax free earnings when withdrawn for education purposes.
• Education expenses can be for Elementary, Secondary or Higher education.
• No compensation requirements or age restrictions.