IRAs

Start saving today for your retirement. Your Credit Union offers a variety of IRA products to meet your needs.

As with any tax/retirement issue- Please consult your tax/retirement advisor. You can set up systematic savings with direct deposit or payroll.

Open Deposit IRA

This account pays a competitive rate of interest. It can be started with as little as $25. It is an open deposit account which can be setup as a Traditional IRA or a Roth IRA.

IRA Share Certificate

Our IRA Share Certificates have a $250 minimum for terms from 6 months to 5 years. Interest is paid to the account quarterly. This product is available as a Traditional IRA or a Roth IRA. Penalty for early withdrawal.

Traditional IRA

You can defer taxes on a Traditional IRA until they are withdrawn. Deposits may be tax deductible depending on your Modified Adjusted Gross Income. Check with your tax advisor.

Roth IRA

This is a non tax deductible account that features tax free withdrawals upon meeting Federal IRA guidelines. Check with your tax advisor.

How are they Different?

Traditional IRA - In a traditional IRA, contributions you make to the account are often tax deductible and taxed upon withdrawal. This allows you to defer taxation until your retirement when you may be in a lower tax bracket. Check with your tax advisor.

Roth IRA - Contributions to a Roth IRA are NOT tax-deductible, but can be withdrawn tax and penalty free at any time. Earnings can be withdrawn tax and penalty free upon meeting Federal IRA guidelines. Check with your tax advisor.

* Please note that you CAN contribute to BOTH a Roth and a Traditional IRA each tax year, but the total combined contribution must not exceed the specified amount for that tax year. Check with your tax advisor.