COVERDELL EDUCATIONAL IRA
Everyone has different reasons for saving money.  Whatever your goals, Hampton State Bank's financial experts can help you save wisely.  We can help you structure a plan to achieve your goals.  We'll help you select a savings plan that is best for you and your individual needs and goals. 

The Educational IRA provides a boost to college savers by allowing nondeductible contributions annually for each of your children, grandchildren or any others under age 18.

There are no taxes or penalties on contributions or earnings that are withdrawn from the account to pay qualified college expenses.

Features: 

  • Distributions from a Coverdell Educational IRA are penalty free and tax free

Benefits:

  • Earnings grow tax free and distributions will not be taxed
  • Anyone can fund a CESA (Coverdell Education Savings Account)

Advantages:

  • Convenient
  • Offers tax advantages
  • Easy and simple to set up

SEP

If you have questions or would like information about SEPs, contact our account expert, Michelle Schaefer.

Savings Calculator     Millionaire Calculator

Retirement Calculator

Contact one of our account experts, Michelle Schaefer or Donnis Borcherding to open your Educational IRA account.

At Hampton State Bank, we're working smarter for you!

 

 

Important Information About Procedures for Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What that means for you:  When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.  We may also ask to see your driver's license or other identifying documents.