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Home / What is an IRA?

What is an IRA?

IRA stands for Individual Retirement Account. These accounts offer tax-deferred or tax-free contributions to allow you to save for your retirement.

We can help you start saving for retirement today. We currently offer the following IRA options:

Individual Retirement Accounts are an important part of planning for your future financial well being. These types of accounts offer tax advantages and there are two primary categories of IRAs: Traditional and Roth.

Traditional IRAs boast tax-deductible contributions–taxes are not paid on deposits until you begin to make withdrawals, so the investments grow tax-deferred. On the other hand, contributions to a Roth IRA are not tax-deductible, so as a result they are tax-free upon distribution. Your earnings in these types of accounts also grow tax-deferred, so income taxes on the investment earnings are not paid until withdrawals are made.

To open an IRA account or for more information, please call a member service representative at 800.356.0067.

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