IRAs That Work For Your Future

An IRA gives you the tools to secure your retirement and maximize every dollar. The earlier you begin, the more years your money has to grow.

Grow your money faster with the long-term boost of compound interest.
Save on taxes now or in the future with built-in IRA advantages.
Open with as little as $100 and start building your future today.

Traditional IRA

Contributions may be tax-deductible
No penalty for withdrawal after age 59 ½
Dividends paid quarterly
Minimum opening deposit of only $100
Annual max contribution of $7,000 if you’re under age 50. $8,000 if you’re age 50 or older

Open a Traditional IRA Account

Roth IRA

Contribute after-tax dollars and enjoy tax-free withdrawals in retirement!
No penalty for withdrawal of principal and no mandatory withdrawals required
Dividends paid quarterly
Minimum opening deposit of only $100
Annual max contribution of $7,000 if you’re under age 50. $8,000 if you’re age 50 or older

Open a Roth IRA Account

IRA Term Share Certificate*

Combining CD benefits with IRA tax advantages
Terms available from 3 months to 4 years
Dividends paid quarterly
Minimum opening deposit of $1,000
Jumbo IRA available starting at a $95,000 minimum deposit

Open a Term Share Certificate Account

*Traditional IRA Early Withdrawal Penalties. We will impose a penalty if you withdraw any of the principal in your account before the maturity date. The penalty is calculated as a forfeiture of part of the interest that has been or would have been earned on the account, and applies whether or not the interest has been earned. The penalty may be deducted from the principal amount of the deposit. The Annual Percentage Yield for your account is based on an assumption that interest will remain in the account until maturity, and a withdrawal will affect earnings. Tax penalties may be assessed by the IRS for early withdrawals of IRA certificates. See your tax advisor for details.

Retirement Account Guide

	Traditional IRA	Roth IRA	IRA Term Share Certificate
Can I access my funds before retirement?	Yes, but early withdrawals (before age 59½) are generally taxed as income plus a 10% penalty.	Yes, you can withdraw contributions anytime (no tax/penalty). Earnings withdrawn before 59½ may face tax and penalty.	Funds are locked for the certificate term. Early withdrawal usually means a penalty fee and loss of interest.
Do I get a tax break now or later?	Contributions may be tax-deductible now; withdrawals in retirement are taxed as income.	No tax deduction now, but qualified withdrawals in retirement are tax-free.	No tax benefits on contributions; earnings are taxed as ordinary income when withdrawn.
What if I think my tax rate will be higher in retirement?	Less ideal — withdrawals will be taxed at your future rate.	A good choice — you pay taxes now and avoid them later.	Not designed for tax strategy — focus is on a fixed, guaranteed return.
How flexible are contributions?	Annual contributions up to IRS limits; must have earned income.	Same as Traditional: annual contributions up to IRS limits with earned income	One-time deposit required; no ongoing contributions during the term.
	Open Today	Open Today	Open Today

Learn More About How Our IRA Accounts Work

Learn more about early withdrawal penalties here
Understand how your deposits up to $250,000 are protected with NCUA insurance
Review BVSCU’s Funds Availability
To download our Truth In Savings Disclosures and Rate and Fees Schedule, please click here

Discover More Ways We Can Help You

Checking

Enjoy secure, fee-friendly checking and easy access to your money with dividend-earning options all while building financial freedom.

Open a Checking Account

Savings

Start saving smarter with a range of flexible options designed to help you build financial security and grow your money.

Open a Savings Account