Invest in your retirement safely and securely with an IRA from Union County Savings Bank.
Given today’s economic uncertainty, it makes sense to choose an IRA from UCSB, a trusted community bank that has been in business for 140 years.
UCSB’s IRA Accounts offer great rates and a variety of terms to help guide you to retirement and help make your future a little more certain.
1-Year IRA CD
Interest Rate 3.45%, APY** 3.50%
2-Year IRA CD
Interest Rate 3.16%, APY** 3.20 %
3-Year IRA CD
Interest Rate 2.23%, APY** 2.25%
IRA Savings
Interest Rate 0.59%, APY** 0.60%
| IRA CD ACCOUNT – Earns fixed interest over a set period of time |
| IRA SAVINGS ACCOUNT – Unique tax advantage available with both Traditional and Roth IRAs – Flexible deposits |
Whether you’re considering a Traditional or Roth IRA, both types of investments offer unique benefits to help you grow your retirement savings and prepare for the future.
| TRADITIONAL | ROTH | |
|---|---|---|
| Tax Incentives | Contributions may be tax-deductible.* Deduction may be limited if you or your spouse is covered by a retirement plan at work and your income exceeds certain levels. | Contributions are taxed before funding |
| Tax Benefits | Tax-deferred earnings | Earnings growth is tax-free |
| Income Requirements | Your income does not affect yearly contribution amount | Income limits based upon IRS Filing status |
| Age Restrictions | No restriction | No restriction |
| Early Withdrawal Penalties | Withdrawals are penalty free beginning at age 59 ½ | Withdrawals are penalty free beginning at age 59 ½ |
| Withdrawals | You pay taxes on your contribution and earnings when you withdraw | You won’t pay taxes on contributions and earnings upon withdrawal, if funds have been in the IRA for 5 years |
| Required Minimum Distribution (RMDs) | Age 73 | Withdrawals are never required |
**Annual Percentage Yield
Give us a call at 908-354-4600, or visit one of our conveniently located branches, to learn more.
