Savings Accounts - Individual Retirement Accounts (IRAs)

Traditional

A traditional IRA may be fully deductible depending on your income level and plan participation The dividends earned would be tax deferred.
Independence from employer participation
Freedom to access or move assets
Tax credit for the contribution (if eligible)
Flexibility in choosing investment options and contribution amounts
Ability to leave assets to your beneficiaries
Tax deduction for contribution (if eligible)




Roth

Roth IRA contributions are non-deductible, but in most cases your earnings are tax free.
Independence from employer participation
Flexibility in choosing a financial organization, investment options, and contribution amounts
Accessibility of assets
Ability to leave your assets to the beneficiaries of your choice
No required minimum distributions
Possible tax credit for contributions
Tax-deferred earnings
Tax-free distributions if qualified




Coverdell Education

Coverdell Education IRA was designed to help families save for educational expenses.
Qualified Education Expenses
Elementary, Secondary, or Post-Secondary

Tuition and fees
Books
Supplies and equipment
Room and board
Special needs services




The Tax Relief Act of 2001 further increased the limits of contribution for all three types of IRAs.
You can go to the IRS website to view these limits.

Contact us for more information or to open an account.
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Member accounts are insured to $250,000 by the National Credit Union Share Insurance Fund. An additional $250,000 is insured by Excess Share Insurance, a private insurance company.