Whether you’re saving weekly or have a lump sum annual contribution, Salem VA Credit Union offers a wide range of IRA options to meet your needs.
Traditional IRAs are powerful tools in creating a balanced, long-term savings plan that will help provide safety and security for you and your family for years to come. Contributions may be deducted from your taxable income, reducing the income taxes you pay now.
A Roth IRA offers members an easy and safe way to plan for the future. Your contributions are not tax-deductible, but the earnings within a Roth IRA are tax-free as long as your funds have been in the account for at least five years and you are either over age 59½, disabled, or buying your first home.