It is always a good idea to start saving for your future, but the first – and biggest – question is usually "Where should I start?" With so many different plans, accounts and options, it is important to do your homework and research to find the best fit for your financial situation. If you choose a Traditional IRA, you may rollover or transfer Individual Retirement Account investments from other financial institutions to invest in an RBFCU IRA product. The IRA accounts at RBFCU are separately insured by the NCUA for up to $250,000.
Traditional IRAs are a powerful way to save for your retirement because your contributions earn dividends that accumulate and compound tax-free until the funds are withdrawn.
- An IRA Savings Account allows you to begin saving for retirement with no minimum balance required.
- Traditional IRA Certificates are available with terms from 26 weeks to 7 years, and a low minimum deposit of $1,000.*
- In some cases, contributions made to Traditional IRAs may be tax deductible.
- Competitive dividend rates offered.
* Substantial penalty for early withdrawal.