Individual Retirement Accounts (IRAs)

There are two things that almost every Montanan agrees on: we'd prefer to pay less in taxes and we'd like a comfortable retirement. Establishing an IRA with Mountain West Bank will help you with both. Traditional and Roth IRAs offer unique tax advantages while securing a healthy financial future.

Individual Retirement Accounts (IRAs)
  • No setup or annual fees
  • Tax-advantaged retirement savings
  • Compound interest
  • $5,500 contribution limit per year
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Funds can be used to purchase CDS, stocks, bonds, etc. within IRA
  • $1,000 minimum deposit to open
  • FDIC insured

Compare the benefits of traditional and Roth IRAs with the tabs above.

Traditional IRA
  • Anyone under age 70½ may open
  • Contributions are tax deductible on state and federal income tax*
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals at age 70½

*Consult with a tax advisor.

**Certain exceptions apply, such as healthcare, purchasing first home, etc.

Roth IRA
  • Income must be less than $120,000 annually to open ($177,000 for married couples)
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal
  • Principal contributions can be withdrawn without penalty*
  • Withdrawals on interest can begin at age 59½
  • Early withdrawals on interest subject to penalty**
  • No mandatory distribution age

*Subject to some minimal conditions.

**Certain exceptions apply, such as healthcare, purchasing first home, etc.

The Summit Club

Enjoy life to the fullest with our travel and social club for ages 50+.

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Tiered Savings

Tiered SavingsMore Details