Community First Bank
  • Personal
    • Personal Checking
    • Personal Savings
      • Certificate of Deposit (CD)
      • Personal Money Market Account
      • Individual Retirement Accounts (IRA)
    • Personal Loans
      • Automobile Loans
      • Boat and RV Loans
      • Construction Loans
      • Home Equity Loans
    • Credit Cards

    Personal Checking

    To simplify your banking needs, we’ve designed our new checking accounts around you and the choices that you make.

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    Personal Savings

    Be prepared for all of life’s rainy days.

    START SAVING

    Personal Loans

    Why wait to grab life by the horns? We’ve got loans to make your plans a reality, today.

    APPLY NOW

    Credit Cards

    Get the right credit card to match your lifestyle.

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    Online, Mobile, and Other Banking Services

    Bank when & where you want.

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    Resources

    Access tools and resources to help you make the right decision to meet your financial goals.

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  • Business
    • Business Checking
    • Business Savings
      • Business Certificate of Deposit
      • Business Money Market
    • Business Loans
      • SBA Loans
      • Commercial Real Estate
      • Vehicle and Equipment Loans
    • Business Services
      • ACH Origination
      • Remote Deposit Capture
      • Merchant Card Services

    Business Checking

    Keep your operation running smoothly with a checking account designed to match your needs.

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    Business Savings

    Set your sights on the future.

    START SAVING

    Business Loans

    Take your business to the next level.

    WE CAN HELP

    Business Services

    ACH origination, remote deposit capture, and credit card processing make transactions easier for you and your customers.

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    Online, Mobile, and Other Banking Services

    Bank when & where you want.

    GO DIGITAL

    Resources

    Access tools and resources to help you make the right decision to meet your financial goals.

    EXPLORE
  • Insurance
  • About Us
    • Leadership
    • Lending Team

    Who We Are

    At Community First, we only have two goals. To help you meet your financial goals and to be a valued member of the communities we serve.

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    Leadership

    An Executive Management Team you can trust.

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    ATM & Branch Locations

    Here to serve you. Across the Carolinas and Tennessee.

    FIND US HERE

    Lending Team

    We take pride in helping you reach your financial goals.

    WE CAN HELP

    Newsroom

    See our press releases, financials, and annual reports.

    READ ALL ABOUT IT

    Careers

    Looking to be part of a growing organization?

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    Resources

    Access tools and resources to help you make the right decision to meet your financial goals.

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Community First Bank
MENU
INDIVIDUAL RETIREMENT ACCOUNT

SAVE FOR THE GOLDEN YEARS AND ENJOY ALL THE ONES IN BETWEEN

  • Personal Checking
  • Personal Savings
  • Personal Loans
  • Credit Cards
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“Individual Retirement Accounts (IRA)” doesn’t have any sub pages.

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  • Personal Money Market Account
  • Individual Retirement Accounts (IRA)
  • Certificate of Deposit (CD)

Individual Retirement Accounts (IRA)

IS AN IRA RIGHT FOR ME?

Individual Retirement Accounts let you save money for retirement and get a tax break for doing so. You’re going to need income during retirement, and these accounts can help you build the savings and wealth you’ll need to live the lifestyle you love.

Individual Retirement Account Features

  • $100 minimum to open
  • No maintenance fees
  • Unlimited FREE access to Personal Online Banking + Mobile Banking
  • Interest tiered on daily balance, compounded daily and credited quarterly

Consider an IRA if you:

  • need to save money for retirement (hint: you do)
  • want to potentially cut your tax bill
  • want a variety of investments to choose from
TRADITIONAL VS ROTH IRA?

There are several Individual Retirement Account options – we offer both Traditional and Roth IRAs. See how they compare and which may be the right for you.

Traditional IRA

With Traditional IRAs, your funds grow tax-deferred and contributions can be tax-deductible.

  • Anyone can contribute to a Traditional IRA account – there’s no income cap
  • When it comes to tax time, you may be able to deduct your contributions and reduce your overall tax bill. There are a few limitations, so ask your banker for more information.
  • You won’t owe income taxes until you withdraw money from your account (i.e., you’ll pay taxes on both the contributions and earnings at the time you withdraw the money)

Roth IRA

In a Roth IRA, your money grows tax-free and your withdrawals during retirement are tax-free.

 

  • Not everyone can contribute to a Roth IRA – there’s an income cap that prevents higher earners from contributing
  • You can’t deduct your contributions come tax time, but you never owe taxes on the investment gains in your account so you can withdraw money tax-free in retirement
  • With a Roth IRA, you have some withdrawal flexibility and can take out your contributions any time without penalty

STILL NOT SURE? CONTACT OUR LENDING TEAM TO DISCUSS YOUR OPTIONS TODAY.

Make your retirement years as golden as they should be. Set up your IRA today.

Disclosure

Traditional IRA distributions are taxed as ordinary income. Distributions from Traditional and Roth IRAs may be subject to taxes. Please speak to a qualified tax specialist for more information.

Community First Bank

BANK HOURS

LOBBY:
Mon-Thurs: 9am – 5pm
Fri: 9am – 6pm

DRIVE-THRU:
Mon-Thurs: 8:30am – 5pm
Fri: 8:30am – 6pm

 

Community First Bank, Inc BBB Business Review

Community First Bank
NMLS #607801

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  • Locations
  • Careers
  • Newsroom
  • Privacy Policy
  • Disclosures
  • Reporting Fraud
  • Financial Calculator
  • Pay Your Loan Online
  • NMLS# Lookup
  • Stop Unsolicited Mortgage Offers
Pay Loan Online
Community First Bank

864-364-6130

Community First Bank
NMLS #607801

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  • Personal Banking
    • Personal Checking
    • Personal Savings
      • Personal Money Market Account
      • Individual Retirement Accounts (IRA)
      • Certificate of Deposit (CD)
    • Personal Loans
      • Automobile Loans
      • Boat and RV Loans
      • Construction Loans
      • Home Equity Loans
    • Credit Cards
  • Business
    • Business Checking
    • Business Savings
      • Business Certificate of Deposit
      • Business Money Market
    • Business Loans
      • SBA Loans
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      • Vehicle and Equipment Loans
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