Finance Factors-Types of IRAs

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INDIVIDUAL RETIREMENT ACCOUNTS	TERM	APY*	MINIMUM DEPOSIT	COMPOUNDING	FEES
Incentive Time Certificate	9-Months	See Today's Specials	$2,500	Quarterly	$10 fee for replacement certificate
	12-Months
	18-Months TU

	24-Months TU
Heritage Time Certificate (age 55 or over)	9-Months	See Today's Specials	$2,500	Monthly
	12-Months
	18-Months TU

	24-Months TU

*All Annual Percentage Yields (APY) effective 7/28/08 (assumes interest will remain on deposit), subject to change without notice. $2,500 minimum opening deposit and minimum balance is required to be maintained for the entire term. Other rates and terms available. Penalty may be imposed by Finance Factors for early withdrawal. Withdrawals before the age of 59-1/2 years may result in an IRS penalty tax. Fees could reduce earnings on the account. Special rates are available to Hawaii residents only and may be discontinued at any time.

Time Certificates for Individual Retirement Accounts (IRAs) and Coverdell Education Savings Accounts (CESAs)

Get high returns on your retirement and education savings accounts with an Incentive Time Certificate or Heritage Time Certificate (must be 55 years or older).

Traditional IRA: A retirement account that features tax deductible contributions and tax-deferred savings for retirement (some restrictions apply).

Roth IRA: A retirement account that features after-tax contributions and tax-free earnings and distributions at retirement. Ideal for those who do not qualify for deductible contributions to a Traditional IRA account.

Coverdell Education Savings Account: A non-deductible account that features tax-free withdrawals for a child’s education expenses. Earnings grow tax-deferred. Funds may be withdrawn tax-free if used for qualified education expenses.

Features/Benefits:
1. $1,000 minimum deposit to open account.
2. Available for weekly special CD rates only.
3. Terms vary.
4. Rates are fixed for term of certificate.
5. Interest is credited and compounded quarterly for Incentive Time Certificates and monthly for Heritage Time Certificates.
6. Traditional and Roth IRA accounts are insured by the FDIC up to $250,000. Our CESA accounts are insured by the FDIC up to $100,000.
7. Maturity notices are mailed to remind you when your certificate is coming up for renewal.
8. Convenient 10-day grace period gives you time to decide if you want to renew or redeem your certificate without penalty.
9. Early withdrawal penalty may be waived for qualified distributions prior to CD maturity.
10. Withdrawals before the age of 59-1/2 may result in an IRS penalty tax.
11. Please refer to our CD Disclosures, Additional Disclosures for IRAs and CESAs and Fee Schedule for additional information and terms.

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