Certificates of Deposit and Investment Retirement Accounts are two popular and safe ways to invest your hard-earned money. Both are FDIC insured.

A CD is an investment for a specific term with a guaranteed yield. You select the flexible term that works best for you and watch your money grow. You are provided a 10-day grace period to change your CD or to withdraw your money following the maturity date. After the grace period, it renews automatically.

• $500 minimum balance to open
• Terms ranging from 91 days to 5 years
• Interest can be paid to the certificate deposit account, deposited to a Sibley State Bank checking or savings account, or an interest check can be mailed directly to you

If you would like our current CD rates or would like to be added to our direct mailing list of names, please phone us at 712-754-2561.

IRA Accounts

An IRA is a special tax-deferred savings plan that encourages investing for your future retirement. Individuals who are under age 70½ can contribute 100 percent of earned compensation of $5,000 or $6,000 depending on age, whichever is less. Contributions may be tax-deductible depending on your income. Earnings on your IRA are tax-deferred until withdrawn.

Traditional IRA

• Deductible contributions
• Tax-deferred growth of earnings
• Maximum annual contributions of up to $5,000 for those under age 50 and $6,000 for those over age 50, or 100% of compensation, whichever is less.
• No contributions after age 70½
• Distributions must begin at age 70½

Roth IRA

• Non-deductible, after-tax contributions
• Tax-free earnings and distributions
• Maximum annual contributions of up to $5,000 for those under age 50 and $6,000 for those over age 50, or 100% of compensation, whichever is less.
• Contributions permitted after age 70½
• Distributions not required after age 70½