An IRA is a Federally sanctioned vehicle for saving for retirement. First State Bank of Colorado IRAs are invested in Certificates of Deposit with the Bank. The Bank offers both Traditional and Roth IRAs. IRAs are complicated instruments and different types of IRAs may be attractive to the customer based on a variety of factors. Potential IRA customers are encouraged to make an appointment with a New Accounts Representative to discuss the available options along with benefits and drawbacks of each type of IRA. IRAs are interest bearing instruments. There may be significant penalties for early withdrawal.