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Belco Community Credit Union

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Belco's Online Banking

IRA, Individual Retirement Account, IRAs. Retirement, Retirement IRA, Traditional IRA, Roth IRA,
Deposit AccountsIRA- Individual Retirement Account

Belco's Online Banking

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Individual Retirement Accounts

Belco has a complete range of retirement account options to help meet your savings goals with the added benefit of tax advantages. We offer both IRA Savings Accounts and IRA Certificates. The IRA savings account offers a convenient way to start saving. No funds required to open! After your contributions accumulate to $500 or more, you might consider an IRA certificate to obtain a higher yield. There are three types of IRAs available to meet your needs.

  • TRADITIONAL IRA features tax-deferred earnings, and is subject to a maximum annual contribution amount as set by the IRS. Members age 50 and over can make additional “catch-up” contributions. Withdraws during retirement years are taxable.
  • ROTH IRA contributions are non-deductible, however you can withdraw tax free during your retirement years. Earnings can also be withdrawn without a penalty if certain conditions are met. Contributions are based on income earned, with a maximum amount as set by the IRS. Members age 50 and over can make additional “catch-up” contributions.
  • COVERDELL EDUCATION SAVINGS ACCOUNTS are established for children under the age of 18 to help save for higher education expenses. The maximum contribution is set by the IRS and deposits can be made until April 15th of the following year.

Belco IRA accounts feature:

  • Dividends that are paid and compounded monthly
  • Rates that are tiered and will therefore increase with higher account balances
  • Tax advantages specific to the type of IRA opened (please consult your tax advisor for specific information)
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Additional retirement options are also offered by Belco Retirement & Investment Services