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Traditional IRA
Start setting aside money for retirement now. Earnings grow tax-deferred and your contributions may be partially or fully deductible but distributions are generally taxable. And the good thing is that you may make contributions to your Traditional IRA. Dividends earned are not taxed until withdrawn at retirement when your tax bracket may be lower. Some of the benefits include:
  • Depending upon your income, you may be able to deduct your annual contribution from your taxable income and defer the taxes until withdrawals begin.
  • Contributions to IRAs can be made throughout the year with personal deposits or through convenient direct deposit based on IRS guidelines.
  • IRA accounts are federally insured separately from your other savings accounts up to $250,000.
  • Dividends are compounded daily and paid monthly. For dividend information, see our rates.
To open a Traditional IRA Account, come into any branch and speak to a Specialty Services Representative today!

Find out how you can become a member today!
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