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News & Information

Happenings and Dates to Remember

Fosston Rotary 5K will be held on Saturday, May 3rd at 10:00 a.m. with a kidís 1K at 9:30.

Highway 2 Cruisers annual car show is Saturday, August 23, from 10:00 to 2:00.

First Care Foundationís 4th Tango & Cash will be held on Saturday, October 18, at the Fosston Civic Center.

 

 

 

 

      

 

 

 

 

 

 

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Business Retirement Accounts

Traditional IRA

The Traditional IRA is a high yielding Investment Account designed to encourage saving toward retirement with "before tax" dollars. Any individual, with earned income,  under age 70 1/2 years of age is eligible to enroll in this program. Please note The IRS imposes a 10% penalty for premature distribution before age 59 1/2.

Account Terms

Statement Delivery- Conventional or email Free
Minimum Balance Required to open Savings IRA None
Minimum Balance Required to open Certificate of Deposit IRA $1,000
Contribution Limits for 2014 $5,500
Catch-Up Contributions (age 50 or older) for 2014 $1,000
On-Line Access Via ExecuBanc Free

Roth IRA

The Roth IRA is a high yielding, nondeductible Investment Account that features tax-free withdrawals of certain distributions after a five-year holding period. It is designed to encourage saving toward retirement with "after tax" dollars. An individual with earned income, regardless of age is eligible to enroll in this program. Please note The IRS imposes a 10% penalty for premature distribution before age 59 1/2.

Account Terms

Statement Delivery Ė conventional or email Free
Minimum Balance Required to open Savings IRA None
Minimum Balance Required to open Certificate of Deposit IRA $1,000
Contribution Limits for 2014 $5,500
Catch-Up Contributions (age 50 or older) for 2014 $1,000
On-Line Access Via ExecuBanc Free

Request a UBM IRA account application

Please consult your tax advisor for additional information.

Please contact us for interest rates and terms.