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Richard C. Aquadro Engineering Scholarship

An IRA at Northampton Cooperative Bank is a secure way to save for the future.

A Northampton Cooperative Bank Individual Retirement Account (IRA) is a smart and secure way to save for retirement. Securely invested in a certificate of deposit or money market account with a guaranteed rate of return, your money will grow - and provide certain tax advantages for your retirement.

We offer a number of different types of IRAs, including:

Traditional IRA

Contributions to a traditional IRA are tax-deductible for income tax purposes, typically reducing your tax burden now. Transactions and earnings in the IRA are not taxed, and withdrawals at retirement age are taxed as income (except for any portions of the withdrawal corresponding to contributions that were not deducted).

Roth IRA

Contributions to a Roth IRA are not deductible, but withdrawals are usually tax-free. Named for Senator William Roth, this account provides an alternative to a traditional IRA with different requirements and limits.


A simplified employee pension (SEP) IRA allows an employer (typically a small business or self-employed individual) to make retirement plan contributions into an IRA established in the employee's name, rather than to a pension fund in the company's name. Contribution limits are typically higher than with traditional IRAs.

IRAs are an excellent way to save for retirement, though all have different requirements, including income and contribution limits, as well as penalties for early withdrawal. Contact your tax advisor to determine which IRA makes the most sense for you. Take a look at our competitive certificate rates, stop in to any of our locations in Northampton, Amherst or Florence, or call us at 413-584-4474 to find out more.