United Bank - Certificates of Deposit

United offers certificates of deposit that earn market rates of interest and are available with a variety of maturities.

Interest earned may be paid monthly, quarterly, semi-annually, annually or at maturity. The interest may be automatically credited to a United account or mailed to you in the form of a check.

CDs may be reinvested within 10 days of maturity without loss of interest, or if you prefer, you may designate your CD to be automatically reinvested upon maturity at the prevailing rate. You are permitted a 10 day period after maturity in which changes to the terms of the CD may be made.

Now is the best time to invest in your future. By planning for tomorrow today, you help ensure a secure retirement. Because your IRA earnings may be tax sheltered, the sooner you contribute, the faster your investment dollars grow.

United offers Tradional, Roth and Education IRAs that earn market rates of interest in any certificate of deposit. There is also a special IRA Float Savings Plan with a variable rate of interest that changes monthly.

The traditional IRA is an account that allows you to defer taxes on the earnings on your contributions until they are withdrawn. Also, certain contributions are tax deductible in the tax year for which they are made. When you reach the age of 70 �, you must begin to take minimum required distributions or risk additional penalty taxes.

The Roth IRA allows only nondeductible contributions and features tax-free withdrawals for certain distribution reasons after a five-year holding period. You are not required to take distributions from your Roth IRA. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, if you expect to be in a higher tax bracket when you retire, you may benefit more from a Roth IRA than from a traditional IRA.

Opening both a traditional and a Roth IRA would let you develop your own blend of tax-deductible contributions to your traditional IRA and nondeductible contributions to your Roth IRA. You can decide which is a greater priority for you: minimizing your taxes now through a deduction or minimizing your taxes in the future with tax-free earnings.

The Coverdell Education Savings Account is a nondeductible account that features tax-free withdrawals for a very specific purpose - a child's education expenses. These accounts were formerly known as Education IRAs, and at first glance, a CESA may look similar to traditional or Roth IRAs. Higher education distributions are also permitted from these accounts, but while qualified higher education distributions from a traditional or Roth IRA are only penalty tax-free, the same distributions from a CESA are penalty free and federal income tax-free. A qualified higher education expense generally can be for tuition, fees, books, supplies, and equipment required for the enrollment or attendance at an eligible higher education institution. Basically, an eligible higher education institution is an area vocational school or a college or university. Room and board are also eligible expenses if the student is enrolled at least half time. Consult your tax or legal professional for further information regarding state or local income taxes.

There may be a penalty for early withdrawal. The penalty is assessed only on the amount withdrawn. Under United's Individual Retirement Account your deposits are insured up to a maximum allowed by the FDIC.

This information is intended to provide general information concerning IRAs. It is not intended to provide legal advice or to be a detailed explanation of the regulations covering these accounts, or how they may apply to your individual circumstances.

United also offers Self-Directed and Managed IRAs through our Trust Division. These IRAs provide a broader range of investment alternatives for the investor such as stocks, bonds, annuities, and mututal funds. These services are provided by our Wealth Management Group.

Not FDIC Insured May Lose Value Not Bank Guaranteed

CDARS^® is the Certificate of Deposit Account Registry Service^®. And the easiest, most convenient way to enjoy full FDIC insurance on deposit amounts larger than $100,000.

One Bank
Everything is handled through our bank. Your large deposit is broken into smaller amounts and placed with other banks that are members of a special network. Then, those member banks issue CDs in amounts under $100,000, so that your entire investment is eligible for FDIC insurance. By working with just one bank - our bank - you can receive insurance from many.

One Rate
You can earn one rate on your entire investment - so you can forget about multiple rate negotiations and the need to consolidate multiple disbursement checks.

One Statement
You receive one regular account statement listing all of your CDs, along with their issuing banks, maturity dates, interest earned, and other details. With CDARS, there's no need to manually consolidate statements, track changing collateral values, or use private surety bonds.