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   A Message To Our Customers
Spencer will never ask for your online banking username, password, or PIN via text, email, or phone call. If you receive any such request, please do not respond and contact our Customer Service Center at 1-800-363-8115. Read Full Message

Traditional IRA

A Traditional Individual Retirement Account (IRA) can be an effective retirement tool for individuals. With a Traditional IRA from Spencer, you will be provided the tools to save for retirement while gaining various tax advantages. Opening an IRA now and contributing to it regularly can create a secure retirement setting for your future. Compare the advantages of a Traditional IRA with those of a Roth IRA using our convenient comparison chart: Traditional vs. Roth

Spencer’s IRAs are insured by the FDIC up to $250,000 per depositor.
Why Spencer?
  • Hassle-free rollovers and transfers
  • Minimum to open as low as $500
  • Variety of terms available to meet your needs
  • One term change allowed per year for customers over 59 ½ years of age without penalty
Benefits
  • Tax-Deferred Earnings
  • Contributions and earnings can be withdrawn IRS penalty-free after age 59½
  • Contributions may be tax-deductible, provided that eligibility requirements are met
  • Earnings and tax-deductible contributions are taxed as income upon withdrawal
Who Can Invest?
  • Anyone earning income provided eligibility requirements are met
Maximum Annual Contribution
  • $7,000 (below age 50)
  • $8,000 (age 50 and older)

Inquire Now

Open Your Account Today

Inquire online, visit your local Financial Center, or call us at 1-800-363-8115 today!