Black Hills Community Bank is proud to be your partner in preparing for secure and comfortable retirement. Explore the benefits of Individual Retirement Accounts (IRAs) and discover how we can help you achieve your long-term financial goals. 

An Egg With Ira Written On It In A  Nest

Variable Rate Savings

  • Rates may change monthly
  • Interest compounded monthly
  • Deposits may be added at any time

IRAs are subject to IRS rules and regulations. Consult your tax advisor.

What is an IRA?

An Individual Retirement Account (IRA) is a tax-advantaged savings account designed to help individuals save for retirement. IRAs offer various tax benefits, such as tax-deferred or tax-free growth, depending on the type of IRA you choose and your eligibility.

Types of IRAs

1. Traditional IRA

A Traditional IRA allows individuals to make contributions with pre-tax dollars, potentially reducing their taxable income for the year. The funds in a Traditional IRA grow tax-deferred until withdrawal, typically during retirement when you may be in a lower tax bracket.

2. Roth IRA

A Roth IRA differs from a Traditional IRA in that contributions are made with after-tax dollars. While contributions are not tax-deductible, qualified withdrawals, including earnings, are tax-free. Roth IRAs offer flexibility, allowing contributions to be withdrawn penalty-free at any time for any reason.

Why Black Hills Community Bank?

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Personalized Service: Enjoy the personalized attention and support of a local bank that values your individual needs and goals.

Community Commitment: We’re deeply committed to giving back to the communities we serve through various initiatives and partnerships.

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Iras | Untitled Design553 1

Banking Expertise: We have a team of local bankers to help you with your banking needs.