Individual Retirement Accounts at Bragg Mutual FCU

Whether you’re working full-time or part-time, an IRA from Bragg Mutual gives you a dependable way to grow your retirement savings with steady returns and flexible access.

Bragg Mutual FCU IRAs

Bragg Mutual offers both Traditional and Roth Individual Retirement Accounts to help you save for your future on your terms. Both options allow you to earn competitive dividends, but they differ in how and when your contributions and earnings are taxed.

Planning for retirement starts with the right account and there’s no better time to start than now.

BMFCU Traditional IRA

A Traditional IRA gives you the benefit of tax-deferred growth. In most cases, contributions are tax-deductible in the year they’re made, helping reduce your taxable income now. Taxes are paid only when you begin withdrawals in retirement.

Traditional IRA Features:

$10.00 Minimum Deposit to Open
$300.00 Minimum Balance to Earn Dividends
Tax-Deferred Earnings Until Withdrawal
Contributions May Be Tax-Deductible (Based on Income and Filing Status)
Quarterly Compounding
No Setup or Maintenance Fees from Bragg Mutual

BMFCU Share Certificate Requirements:

Additional IRS rules and penalties may apply for early withdrawal or excess contributions. Please consult a tax advisor.

BMFCU Roth IRA

With a Roth IRA, you contribute after-tax dollars, which means qualified withdrawals are tax-free. This account is ideal for those who expect to be in a higher tax bracket in retirement or who want more flexible access to their savings.

Roth IRA Features:

$10.00 Minimum Deposit to Open
$300.00 Minimum Balance to Earn Dividends
Tax-Free Earnings and Withdrawals (If Qualified)
Contributions May Be Tax-Deductible (Based on Income and Filing Status)
Quarterly Compounding
No Setup or Maintenance Fees from Bragg Mutual

Roth IRA Requirements:

Must have earned income within IRS income limits to contribute
Annual contribution limits set by the IRS
No Required Minimum Distributions (RMDs) during the account holder’s lifetime
Qualified withdrawals are tax-free if the account is at least five years old and:
You are age 59½ or older, you become permanently disabled, funds are used for a qualified first-time home purchase (up to $10,000).

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