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Traditional IRAs

Roth IRAs

Traditional vs. Roth IRAs

These few key distinctions will help you determine the right account for your retirement goals. As your financial partner, we’re here to help you make informed decisions. Give us a call or stop by your local branch and we can look at which IRA makes sense for you.

Maximum Annual Contribution The maximum can be contributed to one or the other or split between both a Traditional and Roth account.
Tax Benefits Please consult with your professional tax advisor.
Earnings
Taxes Upon Withdrawal
Withdrawal Restrictions
Withdrawals Must Begin at Age
Minimum Balance Requirement
Fees

$5,500 (if under age 50)
$6,500 (age 50 and over)

$5,500 (if under age 50)
$6,500 (age 50 and over)

• Tax-deferred growth
• Contributions may be tax-deductible

Tax-free growth
• Tax-free qualified withdrawals
Grows tax-deferred until withdrawn
Grows tax-free
Withdrawals are taxed as income
None, unless taxed for early withdrawals
Most withdrawals before age 59½ result in IRS penalties
Most withdrawals before age 59½ result in IRS penalties
70½
None
• No minimum for IRA Savings Accounts
• $500 minimum for IRA Certificates
• No minimum for IRA Savings Accounts
• $500 minimum for IRA Certificates
No set-up or monthly maintenance fees
No set-up or monthly maintenance fees

Our IRA Rates

Articles

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Are IRA funds insured?

All deposited funds with us are federally insured by the NCUA.

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Can I open an IRA with someone else?

IRAs can only be opened with one owner.

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Do you have more IRA questions?

Visit our Retirement Center for more details.

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