Retirement Accounts

If you dream of a comfortable retirement, saving and making the most of your money is key. An Individual Retirement Account (IRA) is a great way to earn more and bring your retirement dreams to reality.

What is an IRA and how do they work?

An IRA stands for Individual Retirement Account. Many people mistakenly confuse an IRA to mean a financial product not insured by the NCUA or the FDIC, this is not the case. An IRA is a special designation given to many financial products to provide for tax benefits to encourage saving for your retirement. You have the choice to designate a NCUA insured Savings Account or Certificate of Deposit as an IRA, just as you have the option of having non-insured investments such as Stocks or Mutual Funds as an IRA. Harbor offers three different types of IRAs - Traditional IRA, Roth IRA, Coverdell Educational Savings Account (ESA)

Traditional IRA

A traditional IRA is a tax-deferred retirement savings account. You pay taxes on your money only when you make withdrawals in retirement. Deferring taxes means all of your dividends, interest payments and capital gains can compound each year without being hindered by taxes - allowing an IRA to grow much faster than a taxable account.

Roth IRA

A Roth IRA is a retirement savings account that allows your money to grow tax-free. You fund a Roth with after-tax dollars, meaning you've already paid taxes on the money you put into it. In return for no up-front tax break, your money grows and grows tax free, and when you withdraw at retirement, you pay no taxes.

Coverdell Education Savings Account (ESA)

A Coverdell ESA can help you save for a child's education expenses, such as tuition, fees, books, supplies, equipment, and, in some cases, room and board.

Choose An Account That Meets Your Retirement Goals

The following are IRA (Individual Retirement Accounts) available at Harbor: Roth, Traditional, and Coverdell Education Savings Accounts.



IRA Savings Account

Saving for long term retirement or if you just need an account to rollover your retirement benefits, a IRA Savings from Harbor is an easy and convenient option!

  • A minimum deposit of $10. to open
  • Deposit or withdrawal anytime
  • Monthly statements and accessible online



Certificate Accounts

Certificate Accounts are a great way to invest and earn higher dividends over a set term. Maximize your money with a Term Share Certificate Account. When you open a Harbor Certificate, you select the amount to invest and the length of term and your funds are secured for the term of the Certificate.

  • Open with as little as $1,000
  • Choose terms from 6 months to 5 years
  • Receive dividends compounded and paid monthly
  • Certificate can be used to secure a Certificate Secured Loan (IRA CERTIFICATES do not qualify)
  • Jumbo rates available

Honest & Expert Advice from Your Financial Advisor

Retirement requires careful planning to make sure your funds can support a lifestyle you are comfortable with. Don't risk the chance of making the wrong choice, receive a free consultation with LPL Financial, the exclusive Financial Advisor for Southland and Harbor Credit Union Members. You will receive expert advice from a licensed Financial Advisor.

Schedule A Free Consultation

Steven Lakso, LPL Financial Advisor
Located at Southland Credit Union
Phone: 562-936-8714
Cell: 714-315-5162
CA Insurance Licence # 0D36743

Learn More

  •    401K Rollovers
  •    IRA Rollovers
  •    Individual Retirement Accounts
  •    Tax Deferred Investments
  •    Business Retirement Plans
  •    Annuities
  •    Insurance Products
  •    Financial & Estate Planning


Securities and Insurance products offered through LPL Financial and its affiliates. Member FINRA, SIPC. Southland Credit Union is not a registered broker/dealer and is not affiliated with LPL Financial.