Traditional and Roth Individual Retirement Accounts (IRAs) are an excellent way to save for retirement.

Dividends earned on Traditional IRAs are tax-deferred until they are withdrawn. You can withdraw funds after the age of 59 ½ without penalty. However, you must start a minimum distribution of funds in the year in which you turn 70½.

Dividends earned on Roth IRAs are tax-deferred and withdrawals are tax free if an IRA account has been established for at least five tax years and withdrawals are for a qualified reason..

IRA Certificates are available directly from LBS Financial Credit Union and offer a guaranteed rate over a period of time—plus they are insured by the NCUSIF

Features of IRA Savings & Certificates

• The minimum opening balance for an IRA Share account is $5.00 and the minimum for IRA Certificates is $100*
• LBS Financial offers you many types of IRA Share Certificates including: 6, 12, 18, 24 and 30 months
• IRA accounts are insured separately from your Share Savings accounts to a maximum of $250,000 by a Federal Government agency (NCUA)
• There are no annual maintenance fees associated with LBS Financial IRA accounts
• You can opt for automatic payroll deductions to make saving in your IRA even easier!

* Must open an additional Credit Union Share account with $5.00 prior to opening an IRA Certificate