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Individual Retirement Accounts (IRA) |
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IRA accounts offer a way to save for
retirement while offering certain tax advantages (which
vary according to member income and eligibility). Members
can choose between two investment options: IRA Share Account
(variable) and IRA Share Certificate Account (fixed).
Both options offer the following benefits:
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- Competitive savings yields
- Low minimum opening deposit
- Dividends compounded daily
and paid quarterly
- Separate insurance protection up to $100,000 by
the NCUA
- Dividends may be tax deferred, tax deductible, or
tax free if certain conditions are met
- Withdrawals may start at age 59 1/2 or before without
an early withdrawal penalty if certain conditions
are met.*
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IRA Share Account |
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This long-term savings account is
unique since members may add funds to the account any
time. Contributions may be made automatically through
payroll deduction. |
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IRA Share Certificate |
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Select from among multiple maturity levels. Earn the highest dividends with a low minimum balance. |
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* Penalties may apply for early withdrawal
from IRA accounts. Other IRS restrictions apply. Please
consult your tax advisor for recommendations on which
type of IRA will be most beneficial to your specific financial
situation. |
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