One of our IRAs could be your tax-favored way to save for retirement.

The Traditional IRA

• Take advantage of raised income limits, allowing more people to make tax-deductible contributions.
• Defer taxes on earnings until withdrawal – when your tax rate may be lower.
• Reduce your tax bill each year with tax-deferred compounding of earnings.
• Pay no penalty for qualified distributions for a first-time home purchase and higher-education expenses.

The Roth IRA

• Contribute after-tax dollars.
• Withdraw your contribution tax-free and penalty-free at any time.
• Withdraw earnings tax-free and penalty-free under a variety of conditions.
• Use funds for a first time home purchase (lifetime limit is $10,000 per person).
• Save up to $2,000 per child per year.

Your tax advisor can offer more guidance on which type of IRA may be best for your needs. We are always here to answer your questions and assist with opening an IRA. Contact us for more information on the benefits of a credit union IRA.

Click here for the Coverdell Education Savings Account (Formerly the Education IRA).

Click here to use the Retirement Calculator

IRA Accounts are now insured to $250,000 by the NCUA.

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