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Savings Certificates & IRAs
Because saving is not just for a rainy day

First State Bank of Wyoming offers Savings Certificates that pay a higher rate than a statement savings account.  You may choose the length of your investment and receive the associated annual percentage yield on your deposit for the term of the certificate.  If you need the funds before the term end, you will be subject to a penalty for early withdrawal, but you will have immediate access to your funds.

Savings Certificates are also an excellent investment for Individual Retirement Accounts.   All funds are insured by the FDIC up to $250,000 per depositor, per insured financial institution for each account ownership category as defined by FDIC

Terms & Yields

Individual Retirement Accounts

First State Bank of Wyoming offers both Traditional IRA's and Roth IRA's. Whether you would like to deposit to your Individual Retirement Account weekly or annually, we can help you choose the investment that is right for you. Our IRA funds are invested in bank Certificates of Deposit to maximize the return on your investment as you save for your retirement.

Both Traditional IRA's and Roth IRA's are attractive, and choosing can certainly be difficult. So, a good place to start is often by determining what options are available to you. Here are some facts about Roth and Traditional IRA's that may be helpful in deciding if this is the right investment option for you:

Traditional IRA's

Often, contributions are 100% deductible.

Earnings grow tax-deferred.

Distributions are generally taxable, but penalty-free if withdrawn under one of the following circumstances:

  • Attaining age 59 ½
  • Incurring a disability
  • Payment for certain health insurance, medical expenses, and higher education expenses
  • Purchasing a first home 
  • Taking equal, periodic payments
  • Death (payments to beneficiaries)
  • Distributions are required by Traditional IRA holders beginning at age 70½

Roth IRA'S 

Contributions are never deductible.

Earnings can grow tax-free. 

Contributions can generally be distributed tax-free at any time. 

Earnings can be distributed tax-free if the Roth IRA holder has first made a Roth IRA contribution at least 5 years ago AND one of the following events occur:

  • Attaining age 59 ½ 
  • Incurring a disability 
  • Purchasing a first home
  • Death (payment to beneficiaries)
  • Distributions are not required to be taken by Roth IRA holders at age 70 ½

We recommend that you discuss these options with a competent tax advisor prior to deciding whether to contribute to a Traditional IRA, Roth IRA, or both.

How Are Your Deposits Protected?

First State Bank of Wyoming is a member FDIC. The FDIC--short for the Federal Deposit Insurance Corporation-- is an independent agency of the United States government. The FDIC protects you against the loss of your deposits if an FDIC - insured bank fails. FDIC insurance is backed by the full faith and credit of the United States government. Visit the FDIC calculators on their website which help consumers determine the amount of coverage in each bank.