Closed Monday, July 4th

We will be closed for the 4th of July!

Skip to Content
Close Icon

Retirement Accounts

Start Saving for Your Retirement

When can I retire? Am I saving enough for my retirement? Will what I’m saving right now allow me to live the way I want when my working days are done?

If you’ve ever asked yourself any of these questions, you’re not alone. It’s never a bad time to start saving more for retirement. At San Luis Valley Federal Bank, we offer multiple options to allow you to save for your retirement more effectively. Stop into one of our offices to speak with our team about how we can help you.

Visit Our Offices


Your Retirement Account Options

You should be able to choose the way you want to save for your retirement. We give you multiple account options to choose from, including:

  • Savings accounts
  • Certificates of deposit
  • Individual retirement money market account
Account TypeWhat You Should Know About This Account1
Traditional IRA

Great way to supplement a personal retirement plan

Those with earned income could be eligible to contribute

Earnings grow tax-deferred

Annual contributions may be tax-deductible

Roth IRA

Powerful combination of retirement savings tax benefits

Persons of any age are eligible if they meet certain income criteria

Contributions are not tax-deductible

Earnings grow tax-free

No tax or penalties on qualified withdrawals

SEP Account

Low cost alternative for retirement savings

Self-employed or small business owners are eligible to establish a SEP for themselves and their employees

Contributions and earnings grow tax-deferred until withdrawn

Simple IRA Plan

Ideal for small employers who do not currently sponsor a retirement plan

Easy to set up and low administrative costs

Employees and employers are eligible to make contributions for employees

Coverdell Education Savings Account

Tax-free way to save for a child’s educational expenses

Funds can be used for expenses related to elementary, secondary and college education.

HSA Checking Account

Contributions and withdrawals are tax-free when used on qualified medical expenses

Funds roll over from year to year

Must be enrolled in a High Deductible Healthcare Plan to be eligible

Free access to online and mobile banking

1Consult Your Tax or Legal Professional for Guidance

 

Want to learn more?

 

 

Health Savings Account

Health Savings Accounts (or HSAs) have grown in popularity as way for consumers to save for healthcare costs. However, many people are still unfamiliar with how to use HSAs and the benefits associated with them.

Take this lesson to learn more about HSAs, including:

  • Eligibility requirements

  • Benefits, features, and risks

  • How to open and use an HSA

Learn More

Individual Retirement Accounts

When it comes to saving for retirement, you have many options to choose from to help you reach your savings goals. IRAs, like all accounts, offer their own features that may make them a good option for you. Take this lesson to learn more about:

  • How IRAs compare to other account options

  • The different types of IRAs

  • Opening and using an IRA

Learn More

 

Sometimes it's difficult to know where to start or what our options are. Let's explore savings options, how to set goals, and other important considerations. To learn more about retirement strategies, click the button below.

Learn More

 

  • Alamosa Main Office

  • Julie Kenison Lopez

    Julie Kenison Lopez

    Member Service Representative

    Department: Deposit

    Location: Alamosa Main Office

    Phone: (719) 589-6653

    Contact Me
  • Pauline Martinez

    Pauline Martinez

    Member Service Representative

    Department: Deposit

    Location: Alamosa Main Office

    Phone: (719) 589-6653

    Contact Me
  • Ramona Quintana

    Ramona Quintana

    Member Service Representative

    Department: Deposit

    Location: Alamosa Main Office

    Phone: (719) 589-6653

    Contact Me
  • Monte Vista Office

  • Mindy Chavez

    Mindy Chavez

    Savings Department Manager

    Department: Deposit

    Location: Monte Vista Office

    Phone: (719) 589-6653

    Contact Me
  • Adelicia McDonald

    Adelicia McDonald

    Member Service Representative

    Department: Deposit

    Location: Monte Vista Office

    Phone: (719) 589-6653

    Contact Me
  • West Alamosa Office

  • Janelle Gaither

    Janelle Gaither

    Member Service Representative

    Department: Deposit

    Location: West Alamosa Office

    Phone: (719) 589-6653

    Contact Me