Traditional & Roth IRA's

La Loma Federal Credit Union offers a wide range of IRA products that will help make your retirement dreams come true.

• Minimum balance of $200 is required for the Traditional IRA savings.
• Annual maintenance fee of $12.
• No monthly fees.
• Contributions may be made in "lump sums" or by regular deposits to the IRA Share throughout the year.
• Dividends are paid monthly.
• IRA Share Certificates are also available with a minimum deposit of $2000 for a term of 18 months. Higher yields and terms up to 60 months are available for certificates of $5,000 or more.
• For Current IRA and IRA Share Certificate rates, check out our Rate Board.
• To compare IRA Features, check out this Quick Comparison Chart.

Add-On IRA Certificate (Traditional or Roth)

The Add-On IRA Certificate account allows members to deposit their annual contributions anytime throughout the term of the Certificate. The minimum opening balance is just $500 and allows for deposit increases during each 1-year term. This account is available for Traditional and Roth IRAs

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Traditional IRA
A traditional IRA is an account that allows you to defer taxes on your earnings until they are withdrawn. Also, certain contributions may be tax deductible in the year they are made.

Roth IRA
The Roth IRA is an account that features tax-free withdrawals for certain distribution reasons after a five-year holding period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, members who expect to be in a higher tax bracket when they retire may benefit more from a Roth IRA than from a traditional IRA. Unlike the Traditional IRA, there is no requirement to begin taking distributions at age 70 ½.