Personal
Individual Retirement Accounts
Winchester Co-operative Bank offers the accounts and tools to help meet your retirement needs.
Get Peace of Mind with Full Deposit Protection
Your deposit accounts are insured in full through a combination of Federal Deposit Insurance Corporation (FDIC) and Depositors Insurance Fund (DIF) insurance. Click here for information about Deposit Insurance.
Our team can help you select the Individual Retirement Account (IRA) that works for you and your plans.
Please consult a tax advisor about your IRA.
Traditional IRAs
Roth IRAs
A Roth IRA is a tax-advantaged personal savings plan where contributions are made with post-tax income, so withdrawals, including interest accrued will generally be tax-free.
You can withdraw Roth IRA earnings tax‑ and penalty‑free only if you’re at least age 59½ and your Roth IRA has been open for five years.
Rollover IRAs
The Rollover IRA is ideal for consolidating funds from previous employer plans, like a 401(k), while maintaining their tax-deferred status of the funds.
SEP IRAs
A SEP is specifically designed for small business owners and the self-employed, allowing for larger tax-deductible contributions than a Traditional IRA.
Traditional/Roth IRA Term Deposit Certificates (TDC)
| Term | Interest Rate | APY**** |
|---|---|---|
| 12 Month IRA TDC | 3.69% | 3.75% |
| 18 Month IRA TDC | 3.45% | 3.50% |
| 24 Month IRA TDC | 3.45% | 3.50% |
| 30 Month IRA TDC | 3.45% | 3.50% |
| 36 Month IRA TDC | 3.45% | 3.50% |
Let's Get Started
Our team is ready to help with your retirement needs. To learn more, visit our offices in Winchester or Woburn, call (781) 729-3620, or use the form below.