Individual Retirement Accounts (IRAs)

An IRA is more than a savings account — it’s your income for the future. Make it a fund you can live on comfortably, by taking advantage of an account that offers real tax benefits*. An IRA from RBFCU helps you set funds aside starting now, while earning a competitive dividend above standard savings.

So whether you choose to spend your time fishing the bay, attending every Giants game, or just hanging out with your family, our IRAs will help make your dream a reality. And with two savings options — traditional or Roth — that both offer significant tax advantages*, you can’t go wrong.

Visit one of our branches to get started.

Summary
  • Save for retirement with tax advantages*
  • Earn competitive dividends higher than regular savings
    • Minimum balance of $100 required to earn dividends
  • Pays monthly dividends
  • Available in traditional and Roth
  • Annual contribution limits apply
  • $1,000 annual “catch up” contributions allowed for ages 50 and better
  • No annual fees or set up fees
  • Federally insured
  • No minimum deposit to open
Traditional vs. Roth

There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA

  • Tax-deferred earnings
  • Contributions may be tax deductible
  • Best option when rolling over your pension or 401(k)

Roth IRA

  • Contributions are not tax deductible
  • Tax-free earnings
  • Tax-free qualified withdrawals
  • More flexible access to funds than traditional IRA
Coverdell ESA

Higher education can become a financial burden. A Coverdell Education Savings Account (ESA) is designed to help lighten the load. 

  • Set aside funds for your child's education
  • Dividends grow tax-free*
  • Withdrawals are tax-free and penalty-free when used for qualifying education expenses*
  • Designated beneficiary must be under 18 when contributions are made
  • To contribute to an ESA, certain income limits apply*
  • Contributions are not tax deductible
  • Contributions are allowed regardless of traditional or Roth IRA participation
  • $2,000 maximum annual contribution per child
  • The money must be withdrawn by the time beneficiary turns 30
  • The ESA may be transferred without penalty to another member of the family

*Consult a tax advisor.

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