Traditional IRA (Individual Retirement Account) | Union Community Bank

Traditional IRA

It’s never too early to start saving for retirement. Enjoy the peace of mind that comes from knowing your financial future is secure by investing in a Union Community Bank Traditional IRA.

The Traditional IRA allows you to contribute pre-tax money into a fund for your retirement. As time goes on, the money will grow taxed-deferred with no capital gain tax or dividend tax due until the time of withdrawal. Unlike a Roth IRA, certain contributions to your account can be tax-deductible during the contribution’s tax year. A Traditional Individual Retirement Account with Union Community Bank offers competitive rates, flexible terms, and expert advise. Contact us to start planning for your future today.

Union Traditional IRA

  • Defer taxes on earnings until they are withdrawn
  • Eligibility: you must be under 70 ½ years of age for the entire tax year and you or your spouse must have earned income
  • Please consult your tax advisor

Union Traditional IRA Statement Savings Plan

  • Open account with a minimum deposit of $50
  • Add to your account weekly, monthly or anytime you choose
  • Choose any amount allowable by law to invest during the year
  • Accumulate $500 to qualify for the IRA Certificate of Deposit

Union Traditional IRA Certificates of Deposit

  • Open account with minimum deposit of $500
  • Interest rates vary depending upon the term

Union Traditional IRA Money Market

  • Competitive interest rates
  • A multiple-tiered variable-rate account*
  • Offers premium interest rates while maintaining investment liquidity
  • Unlimited number of withdrawals in person or at ATM
  • Minimum $1000 to open
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