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Certificate of Deposit (CD)

  • Initial deposit required to purchase a CD: $500.00

  • We offer CD’s with terms of 3 months to 60 Months.

  • Interest on certificates with a term to maturity of less than 9 months will be paid at maturity.

  • Interest on certificates with a term to maturity of 9 months or more will be paid quarterly by adding the interest to your certificate balance.

  • Early withdrawal penalty apply.

Individual Retirement Accounts (IRA)

Discover new and better ways to save for your future. Open an Individual Retirement Account (IRA) at Western National Bank. We will help you make a new contribution, rollover from an existing IRA, rollover from a Qualified Plan, or convert your Traditional IRA to a Roth IRA.

Each type of IRA provides different benefits. Please consult a tax professional to determine which type of IRA suits your needs. The types of IRAs we offer are:

  • Traditional IRA
  • Education IRA

IRAs are insured separately by the FDIC regardless of additional Western National Banks account relationships.

Contributions to an IRA account can be made throughout a current tax year up until the designated personal tax filing date, generally, April 15th following the end of the tax year.

Traditional IRA

Contributions are tax-deferred. If you expect your tax rate during retirement to be lower than it is today or if you want to reduce taxable income now, this option may be a better fit for you.


Contributions are made after you are taxed, so you won't pay taxes when making qualified distributions. If you expect to have a higher tax rate at retirement, this option may be a better fit for you.

Education IRA (CESA IRA)

A Coverdell Education Savings Account (CESA), formally known as an Education IRA, is an education savings plan set up and managed by a parent or guardian for the benefit of a minor. Amounts deposited in the account grow tax-free until distributed, and the child will not owe tax on any withdrawal for qualified primary, secondary and/or higher education expenses.


Similar to the self-employed 401(k), a SEP (simplified employee pension) IRA has high contribution limits and allows for fluctuations in contributions. Contributions are tax-deductible, and investments can grow tax-deferred over time. A SEP IRA is often attractive to those who are self-employed or own a small business.

Health Savings Account (HSA)


You can make pre-tax or tax-deductible contributions. Contributions are limited to current government regulations. Contribution amounts change annually. Consult your tax advisor.

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