Individual Retirement Accounts

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Dividends earned on Traditional IRAs are tax-deferred until they are withdrawn.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 1/2 without penalty. However, you must start a minimum distribution of funds in the year in which you turn 70 1/2.

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  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 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!
  • Great rates

*Must open an additional Credit Union Share account with $5 prior to opening an IRA


Accepts Deposits: Yes

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