CDs & IRAs

Certificates of Deposit

It’s the safest way to save! With many flexible terms to chose from we can help you schedule your maturities to balance potential market rate changes and have cash available when you need it.

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Individual Retirement Accounts (IRAs)

More than 45% of all US households have an IRA - do you? Save for retirement and enjoy tax advantages* with a StellarOne IRA.

If you’re planning to make a contribution*...

The annual contribution limit through tax year 2007 is $4,000, and you’re allowed to contribute up to that amount anytime before your tax filing due date.

For the 2008 tax year the annual maximum contribution limit will be raised to $5,000 for individuals. So, you can make contributions up to that amount anytime through April 15, 2009 (or your tax filing due date).

And... if you’re age 50 or better, you can make an additional “catch-up” contribution of $500 in addition to the standard contribution. This contribution must be made before the April 15th deadline.

To qualify for the “catch-up” contribution, you must turn 50 by the end of the year in which you are making the contribution.

If you’re going to begin taking distributions...

You may begin withdrawing a portion of your IRA savings IRS penalty-free if you’re 59 1/2, however, when you turn 70 1/2, you may be required to begin withdrawing funds. As you do this, we offer a number of options to provide convenient access to your money and ensure that your balance continues working hard for you.

Consolidating several IRAs into a StellarOne IRA

We offer a number of investment choices should you choose to move or roll over additional IRA funds to the bank and still maintain your tax-deferred savings growth. We can help you accomplish this efficiently and conveniently.

*Check with your tax preparer to discuss your tax deductibility status.