An IRA is a federally-regulated, special savings account that allows you to save for your retirement years while enjoying tax-deferred benefits now. Traditional IRA earnings are tax-deferred. Withdrawals can be made without penalty after age 59 1/2 when most people are in a lower tax bracket, so the tax savings can be considerable.
Traditional IRA contributions could be tax-deductible! If you do not participate in an employer-sponsored retirement plan and depending on your income, you could deduct your annual IRA contribution. If you are covered by an employer-sponsored plan, your IRA contributions could still be fully or partially deductible. Talk with your tax advisor about your personal tax benefits.
Traditional and Roth
- Contributions may be made until April 15th of each year for the previous year
- Contributory, Spousal, Direct Transfer, Rollover, and Direct Rollover
- IRA Share Savings to build your IRA funds
- IRA Term Share Accounts with certificates issued for 1, 2, or 3 year terms
- IRAs are insured separately from other savings and checking accounts by the NCUA for up to $250,000
- There is NO IRA administration fee
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