Certificates of Deposit
Hometown Bank of Pennsylvania certificates of deposit provide a secure way to save at a competitive rate. Hometown Bank offers both fixed rate certificates with a variety of terms and a 12 month variable rate certificate. Most certificates are automatically renewed at maturity at the rate in effect on the maturity date. Early withdrawal penalties may apply.
Please contact a Hometown Bank employee for more information about any of our certificates of deposit.
Individual Retirement Accounts (IRAs)
IRAs were originally established to encourage individuals to save for retirement. Hometown Bank offers both traditional IRAs and Roth IRAs. A traditional IRA provides tax advantages in that contributions you make may be fully or partially deductible, depending on your circumstances and generally, amounts in your traditional IRA, including earnings, are not taxed until distributions are taken. The primary difference between a traditional IRA and a Roth IRA is that, the tax break for Roth IRAs is granted on the money withdrawn from the Roth IRA plan during retirement.
The rules and restrictions governing IRAs are many. Please check with your tax adviser for the benefits of an IRA in your specific situation.