Individual Retirement Accounts
Individual Retirement Accounts
Accounts designed to assist with retirement expenses, or in some cases, education or home purchase.
We offer two types of IRAs:
Traditional IRA
Features of our traditional IRA:
- Offers the possibility of deferred taxation of up to $6,000 per year of earned income for those up to 50 years of age
- Offers the possibility of deferred taxation of up to $7,000 per year of earned income for those over 50 years of age with automatic deposits, you’ve got a convenient & worry-free method for setting aside retirement funds
- We offer a daily account or terms ranging from 26 weeks to 5 years — allowing you greater flexibility in managing funds
- Tiered accounts enable you to earn greater dividends with greater balances
- You may begin saving with as little as $25.00 in a Daily IRA or as little as $500 with a term IRA
- Earnings grow tax-deferred until withdrawn and contributions may be tax deductible
Regardless of your needs, we have an account just for you. And, remember, our IRA deposits are federally insured to at least $250,000 by the NCUA, a U.S. Government Agency. Please consult your tax advisor regarding any IRA account.
ROTH IRA
Features of our ROTH:
- You may enjoy tax deferred earnings and withdrawals if the account is open for 5 tax years and withdrawals are for qualified reason (Age 59 1/2, disability, death or first time home purchase)
- Offers the possibility of deferred taxation of up to $6,000 per year of earned income for those up to 50 years of age
- Offers the possibility of deferred taxation of up to $7,000 per year of earned income for those over 50 years of age with automatic deposits, you’ve got a convenient & worry-free method for setting aside retirement funds
- You can contribute at any age if you (or your spouse if filing jointly) have taxable compensation and your modified adjusted gross income is below certain amounts. See IRS.gov.
- Automatic deposits offer a convenient & worry-free method for setting aside retirement funds
- Choose from a daily account or terms ranging from 26 weeks to 5 years — allowing you greater flexibility in managing funds
- Tiered accounts enable you to earn greater dividends with greater balances
Remember, our IRA deposits are federally insured to at least $250,000 by the NCUA, a U.S. Government Agency. Please consult your tax advisor regarding any IRA account.