Bragg Mutual FCU
Bragg Mutual FCU

Individual Retirement Accounts

Referred to as an IRA, this account is geared toward making your retirement living easier. These accounts are available to members having income from a full time or part time employment. Contributions to this account and dividends earned may be tax deferred, depending on your income level, and the type of account you open. We offer three ways to invest. The minimum balance to open is $10.00. Dividends are compounded and credited/posted quarterly for all three types of accounts.

Traditional IRA Share Account – Allows you to contribute and deduct the contribution from your gross income at the end of the tax year. The funds are taxed deferred until you make withdrawals or distributions from the account. Restrictions apply.

Roth IRA – Allows you to contribute non tax deductible funds for higher income levels. The Roth IRA allows you to withdraw tax free if the funds have been on deposit for 5 years and (a) you are over age 59½ or (b) you become disabled, or (c) you use the money for a first time home purchase. Restrictions Apply.

Educational IRA – Allows you to save for a child’s education, requiring that the child is under age 18. The Educational IRA is set up in the child’s name using the child’s social security number.

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PHONE (910) 222-1500