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Individual Retirement Accounts (IRA)

You’re never too young – or too old – to begin thinking about your retirement income. With the stability of Social Security in question and as generous pension plans become a thing of the past, an IRA is a must to secure comfortable retirement living. Furthermore, IRA contributions may be tax deductible so saving with an IRA may help you minimize your tax liability.

Effective April 1, 2006, your IRA funds are insured by the NCUA to $250,000 separately from any other savings you have at the credit union.

Starting your career - As you start your career, start building your retirement plan. A Roth IRA can provide you with tax-free withdrawals when you retire.

Planning as a couple – We can help both you and your spouse start your IRAs. If you both earn income, you can both contribute to an IRA.

Flexibility for a growing family – Your IRA Investment can be used for a first-time home purchase or qualified educational expenses.

Securing your retirement – If you’re nearing retirement, or even if you’re already retired, consider a safe, secure credit union IRA. As an added bonus, there are increased contribution limits if you are age 50 or older.

Direct Rollover Keeps Money in Your Pocket – If you leave your job or retire and you have a qualified retirement plan, you can keep the tax deferred status of the funds by rolling them over directly into a traditional IRA. This will let you postpone paying taxes and avoid the mandatory income tax withholding.

IRA Questions and Answers
Click here for extensive Question and Answers on the various types of IRAs.

How much can I save over time?