CDs & IRAs
Traditional & Roth IRAs
Whether retirement is approaching quickly or in the distant future, developing a sound saving strategy is essential. Traditional and Roth IRA options can support your retirement planning needs. Contributions may be made in lump sums, dividends are paid monthly and there are no monthly fees.
A Traditional IRA is an account that allows you to defer taxes on your earnings until they are withdrawn. Certain contributions may also be tax-deductible in the year they are made. Consult your tax advisor for further information.
A 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 non-deductible 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 a Traditional IRA. Unlike the Traditional IRA, there is no requirement to begin taking distributions at age 70 ½.
Share Certificates subject to Brotherhood CU penalties upon early withdrawal. Please see Brotherhood CU Truth in Savings Disclosure for details.