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Traditional IRA Accounts

Save for your retirement and get tax perks with a Belco Traditional IRA.

A Traditional IRA allows you to build your nest egg and access valuable tax perks. Benefits of opening an account include:

Tax-Deferred Growth

Contributions and earnings grow tax-deferred, allowing more compounded growth versus a taxable account.

May Lower Taxes

Your contributions may reduce taxable income, potentially lowering taxes when you file your return.

No Required Distributions

Unlike many retirement accounts, you aren’t forced to take distributions on a set schedule.

Peace of Mind

Build a financial safety net for your Golden Years, ensuring security and peace of mind.

Key Traditional IRA Account Features

Maximize your retirement savings with these key Traditional IRA features:

  • Tax-deferred growth allows compounded gains.
  • Make deductible contributions to reduce taxable income.
  • Flexible access to funds, with some limits.
  • No required minimum distributions before age 72.
  • Subject to a maximum annual contribution amount as set by the IRS.
  • Members 50 years and older can make additional “catch-up” contributions.
  • Withdrawals made during retirement are taxable.
  • Ability to name beneficiaries to inherit the account.

A Belco Traditional IRA account offers attractive features for growing your savings. You’ll earn monthly dividends that compound and tiered rates that increase with your balance. You’ll also enjoy valuable tax advantages—consult your tax advisor for specifics.

A woman smiles as she checks her Belco Community Credit Union Traditional IRA account balance online.

See Our Tiered Traditional IRA Rates

Rates Accurate as of [Date, Time]

IRAMinimum Balance/RangeAnnual Percentage Rate (APR)Annual Percentage Yield (APY)
Traditional IRA
Roth IRA
Educational Savings IRA
$5.00 - $9,999.990.05%0.05%
$10,000.00 - over0.25%0.25%

*Rates subject to change at any time and without prior notice. Fees may reduce earnings.


“Fantastic place. Friendly and helpful staff at the Lancaster Good Drive location. When unauthorized transactions were attempted to be made on my account Belco was right on it contacting me. I will always do my banking here.”

– Carol H.


“I used many a couple of banks over the years and I have stayed with Belco for the last 15 years. Thanks to their exceptional service and staff Sandy Barr is a true gem. They are lucky to have her. I will bank with them for many years to come.”

– Tammy C.


“Always do my banking at this branch everyone is always very nice and helpful.”

– Renee W.

Enjoy the Benefits of a Belco Traditional IRA Account

Open Now, Fund Later

You can start an account now and add funds when you’re ready.

Easy to Get Started

You won’t lose any of your earnings to unnecessary fees.

Tiered Rates

Earn more with tiered rates that grow with your account balance.

Compounded Dividends

Earn monthly compounded dividends to accelerate savings growth.

Online and Mobile Banking

Check and monitor your account anytime through our online or mobile app.


The NCUA insures your savings up to $250,000 per account.

Take the Next Steps to Open Your Traditional IRA Account

Traditional IRA Account FAQs

What are the contribution income limits?

Consult the IRS website for information regarding your contributions.

When is the deadline to contribute to my Traditional IRA for a particular tax year?

You can contribute to a Traditional IRA account for a given tax year any time up until the tax filing deadline, typically April 15 of the following year. This provides flexibility to fund an account even after the calendar year ends.

How can I withdraw funds from my Traditional IRA?

You can withdraw funds from your Traditional IRA at any time. However, withdrawals are subject to federal and state income taxes, except for any contributions you previously deducted from your taxes. Additionally, you may face a 10% early withdrawal penalty if you withdraw funds before age 59 1⁄2 unless an exception applies, such as using up to $10,000 for a first home purchase. Be sure to consult your tax advisor regarding any taxes or penalties that may apply based on your situation.

More Ways to Save and Earn With Belco

Basic Savings

A Share Savings Account is your gateway to Belco membership, products, and services. Deposit just $5 to get started!

Certificate Accounts

Reach your financial goals by opening a Share Certificate. Make a minimum $500 deposit, then select a 3-month to 5-year term.

Individual Retirement Accounts

Choose the best type of IRA to meet your needs and enjoy the tax advantages. (Consult Your Tax Advisor)