An IRA can be an effective retirement tool. There are two basic types of Individual Retirement Accounts (IRA): the Roth IRA and the Traditional IRA.
Community Resource Bank offers a variety of IRAs to meet your needs. All of our Certificates of Deposit are available as IRA’s. In addition, federal law provides up to $250,000 in deposit insurance coverage for self-directed retirement accounts, such as an Individual Retirement Account (IRA).
Our Value Plus IRA offers an interest rate comparable to a fixed rate Certificate of Deposit with the ease of a savings account.
With a one year term, our Value Plus IRA provides a fixed interest rate. You can add to it whenever you’d like. Use this account to earn competitive rates and to combine multiple IRAs into one for easy tracking and easy distribution.
With a Traditional IRA, you may defer taxes by putting them off until you retire, when you may be in a lower tax bracket. Consult your tax advisor regarding the tax deductible status of an IRA.
If you are changing employers, talk to us about an IRA rollover. Ask your employer to arrange for a “direct rollover” into a new IRA account with us, or you can do it yourself with an IRA-to-IRA rollover. Contact us for details.