SSB gives you the flexibility to plan for your future with an IRA for you.
Self-Directed IRAs
A Self-Directed Individual Retirement Account (IRA) allows investors to utilize their long-term investment dollars held in an IRA for the purchase of stock in our Bank Holding Company Sherwood Banc Corporation. Unlike similar accounts from brokerage firms, Sherwood State Bank does not charge fees for Self-Directed IRAs. Shareholders can transfer an existing IRA account from another financial institution or open a new IRA with Sherwood State Bank.
Self-Directed IRAs also allow continual cash contributions to build your investment in Sherwood Banc Corporation by purchasing shares as they become available. Self-Directed IRAs follow the same guidelines as established for regular IRAs on contributions and withdrawals.
Investments are not insured by the FDIC, are not deposits or guaranteed by the bank, and are subject to risks including the loss of principal.
Self-Directed IRA Savings Rate
| Description | APY* | Interest Rate |
|---|---|---|
| Quarterly compounding $50.00 minimum to open | 0.02% | 0.02% |
These are variable rate products. The rate may change after account is opened. Applicable fees may reduce earnings.
*APY = Annual Percentage Yield