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. Southland offers three different types of IRAs - Traditional IRA, Roth IRA, & SEP IRA.

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.  


A SEP IRA is a type of traditional IRA for self-employed individuals or small business owners. SEP stands for Simplified Employee Pension. Any business owner with one or more employees, or anyone with freelance income, can open a SEP IRA. Contributions, which are tax-deductible for the business or individual, go into a traditional IRA held in the employee's name. Employees of the business cannot contribute - the employer does. Like a traditional IRA, the money in a SEP IRA is not taxable until withdrawal.

Choose An Account That Meets Your Retirement Goals

The following are IRA (Individual Retirement Accounts) available at Southland: Roth, Traditional, and SEP IRA 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 Southland is an easy and convenient option!

  • No minimum deposit to open
  • Deposit or withdrawal anytime
  • Quarterly 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 Southland Certificate, you select the amount to invest and the length of term and your funds are secured for the term of the Certificate. As an added bonus, 6 month and 1 year Certificates feature…AcceleRate! Should rates rise, AcceleRate gives you the opportunity to increase the rate of your Certificate one time during the term.

  • Open with as little as $1,000
  • Choose terms from 6 months to 5 years
  • AcceleRate feature available with 6-month and 1-year Certificates
  • 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 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.