Individual Retirement Accounts
We now offer three types of Individual Retirement Accounts.
Traditional Individual Retirement Accounts
Save up to $4,000.00 per year for your retirement, (higher limits apply if you are over 50, ask for an information packet for details). Earnings grow Tax-deferred until withdrawn. Contributions may be tax deductible. Dividend rates fixed for a one-year period. Withdrawals prior to age 59 ½ may incur IRS Penalties.
Roth Individual Retirement Accounts
Save up to $4000.00 per year for your retirement (higher limits apply if you are over 50, ask for an information packet for details). Most contributions can be withdrawn tax-free and penalty free at any time. Contributions are not tax deductible. Earnings can be withdrawn tax-free and penalty free under specified conditions. Dividend rates fixed for a one-year period. No required withdrawals at age 70 ½.
Coverdel Education Savings Accounts
Contribute up to $2,000.00 per year to help pay for your children's future college expenses (ask for an information packet for details). Contributions are not tax deductible. Funds can be withdrawn tax-free for qualified Higher Education Expenses. Dividend rates are fixed for a one-year period.
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| Savings insured up to $100,000 by the National Credit Union Administration |
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