Certificates of Deposit & Individual Retirement Accounts

Certificates of Deposit

Certificates of Deposit are a great way to earn a higher rate of interest on your money. Your rate of interest will depend on the amount of your investment and the length of time you wish to deposit your money. FDIC Insurance guarantees Certificate of Deposit Accounts, along with other deposit accounts at Longview Bank & Trust.

Click here to view current deposit rates.

*Penalties may apply for early withdrawals.

Individual Retirement Accounts

Today, many financial planners and economists say that individuals will need 70 to 80 percent of their pre-retirement income to maintain their standard of living at retirement. Individual Retirement Accounts allow you to maximize your savings…minimize your taxes…and make the most of your retirement investment. Longview Bank & Trust offers several types of IRAs to fit your needs.

Traditional IRA
The Traditional IRA is an account, which allows you to defer taxes on your earnings until the time of withdrawal. Also, certain contributions are tax deductible* in the year they are made.

Roth IRA
The Roth IRA is a non-deductible account that features tax-free withdrawals for certain distribution reasons. Since Roth IRA contributions are non-deductible and taxed in the year they are earned*, individuals who expect to be in a higher tax bracket when they retire may benefit more from a Roth IRA account than from a Traditional IRA.

Coverdell Education Savings Account (CESA)
The CESA is a non-deductible account that features tax free withdrawals for a child’s higher education expenses. Qualified higher education distributions are tax free and may be made without penalty.

*Consult your tax advisor for more information