Certificates of Deposit
An SNB Certificate of Deposit is a savings vehicle with a guaranteed interest rate. Choose short-term CD's of one month to one year. If you prefer you can invest in a longer term CD up to 5 years.
Individual Retirement Accounts
An IRA is a flexible investment plan, which allows individuals to plan for retirement. An individual under the age of 70 for the entire tax year and who has earned income can establish an IRA. An IRA may be invested in a variety of investment vehicles such as Variable Rate IRA, Fixed Rate IRAs, Self-Directed IRA, Qualified Annuity, or Fully Managed Individual Retirement Trust Account. Interest rates vary by term and type of investment.
Rules for determining active participation in an employer maintained retirement plan vary, depending on whether it is a Qualified Retirement Plan, Qualified Annuity Plan, Tax-Sheltered Annuity, Simplified Employee Pension Plan or Government Plan. In general, a person is considered an active participant if they have satisfied the plan's age and service requirements and voluntary or mandatory contributions have been made to their plan. The current employer (or former employer) will inform the employee of their active participation status for the tax year on the Form W-2--Wage and Tax Statement.
Contributions to an IRA can be made in a lump sum or made in smaller increments. IRA deposits are insured up to $250,000 when invested in either the Variable or Fixed Rate IRAs. 3-year rate watcher option available.
Gives flexibility to set up an investment to meet individual needs. Deposits are safe, the customer chooses rate desired according to market outlook, opportunity to trade to higher rate, if market improves.
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