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IRAs

Benefits Of IRAs

Our Individual Retirement Accounts allow you to choose from a wide variety of Traditional and Roth IRA investments, including daily IRAs and IRA certificates with benefits like:

  • Customized withdrawals - lump sum or periodic payments
  • Spousal plans available
  • IRA deposits are federally insured to $250,000 by the National Credit Union Administration (NCUA)
  • Catch-up contributions for individuals who attain age 50 before the end of the taxable year
  • Increased portability of assets between various plan types

We offer two different types of IRAs, Traditional and Roth IRAs, with different tax benefits.

  TRADTIONAL IRA ROTH IRA

What is it?

A Traditional IRA allows you to make investments that will grow tax-deferred until you remove money from your account. Your contributions to a Traditional IRA may be tax-deductible depending on your participation in a workplace retirement plan and certain income limitations. Catch up contributions may be made by some individuals.

A Roth IRA allows you to invest money by making nondeductible after-tax contributions that grow tax-deferred. The key difference between a Roth IRA and a Traditional IRA is that, in a Roth IRA, money is not taxed when withdrawn for qualified distributions and there is no age limit on making contributions.

Who it is good for

Individuals who qualify for a current tax deduction or who anticipate being in a lower tax bracket during retirement.

Individuals who do not require an immediate tax deduction. No required minimum distributions during a lifetime.

How earnings accumulate

Earnings accumulate on a tax-deferred basis.

All earnings accumulate tax-free.

Rates

View current rates

View current rates

What makes IRAs such a great retirement savings tool is the special federal tax laws governing the taxation of amounts earned within an IRA. Earnings within Traditional IRAs are tax-deferred until they are distributed from the Traditional IRA. Earnings within Roth IRAs may be distributed tax-free. What's more, Traditional IRA contributions are tax-deductible for many taxpayers. Over time, these special tax features can result in significantly larger IRA savings accumulations than what can be accomplished in ordinary savings tools.

Open an IRA

Service an IRA | Email Us | Talk To A Specialist At (800) 334-8788, ext. 4830

Your tax adviser can offer more guidance on which type of IRA may be best for your needs. Of course, we are always here to answer your questions and assist you with opening an IRA. If you have a question, check out our financial calculators.

Options For Existing IRAs

IRA Rollover

When you terminate employment you can elect to have your employer-sponsored retirement plan rolled over into an individual IRA you control.

IRA Transfer

You may transfer an existing IRA to another similar IRA. This is typically done to seek lower costs and consolidate assets.

For more information on IRAs, please call us at (800) 334-8788.

Open an IRA today.

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