|| "CATCH UP"
Individual Retirement Accounts offer the opportunity to save for retirement in one of two
The Traditional IRA is the only IRA that may allow
tax-deductible contributions. It is designed for members that are looking for a tax
savings now and who expect a lesser tax burden after they reach the age of 59 1/2.
The Roth IRA is "back loaded", which
means that contributions are made after taxes. The trade-off is that your investment
earnings are tax-free. Funds can be withdrawn if:
- You are over age 59 1/2
- Funds are going to your beneficiary upon your death
- You have become disabled
- Funds are being used for first time home purchase (lifetime limit is $10,000 per
Either IRA can be opened for as little as $100.00. Deposits can continue to be
made regularly via payroll deduction or ACH (automated clearing house) until the
maximum yearly contribution limit is reached.
Categorized as "Add-on Certificates", IRA Certificates require an initial
deposit of $1,000.00. They are available in 12 month, 24 month, and 60 month terms.
Deposits can be made on throughout the year until the maximum
yearly contribution limit is reached.
View our Account Disclosures for account
terms and conditions.
IRA funds are insured up to $250,000 by the
NCUA (National Credit Union Administration), an agency of the
Ask to speak with our Account Specialist to
learn more about the terms and conditions of IRA Share Accounts.