- Penalty-free withdrawals are allowed for first-time homebuyers and qualified higher educational expenses.
- Contributions and earned dividends are tax-deferred.
- Many taxpayers will be eligible for tax-deductible contributions
- Contributions may be withdrawn tax-free and penalty-free at any time for any reason.
- Contributions are not tax-deductible.
- Tax-free and penalty-free earned dividends are available for withdrawal as long as the account has been open for at least five (5) years and you are over 59½ years old, or are disabled, or buying your first home.
- Allows contributions up to the age of 18 years.
- Money may be withdrawn tax-free if used to pay for higher educational expenses before reaching age 30.
- Tax-free withdrawals for qualified higher educational expenses.
PeoplesChoice Checking with SpendShield has it all.
A FREE checking account with no monthly fees, the lowest overdraft fees in Maine, and a safety net when you need it most. With PeoplesChoice Checking, you’re guaranteed the flexibility and freedom you need to keep your cash in check. Features like free mobile banking, direct deposit, and more get you what you want, when you need it.