Individual Retirement Account (IRA)

Each IRA offers certain tax advantages, which vary according to income and eligibility. Your tax professional is the best source of information about your individual situation.

Share and Certificate IRAs feature

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No maintenance fees
Low minimum balance: $5 -IRA Share Savings; $500 - IRA Certificate
Funds are insured to $250,000 by NCUA
Contribution limits and penalties are governed by federal law

Traditional IRA

Qualified participants may defer taxes on earned income, up to the extent allowed by law. Withdrawals may start at age 59 1/2 and must begin by age 70 1/2.

Contributions are tax-deductible
Contribution limits are increasing top

Roth IRA

Qualified participants may participate up to the extent allowed by law. Earnings are tax exempt.

Contributions are allowed at any age
Funds may remain on deposit past age 70 1/2
Qualified distributions are tax-free
Flexible withdrawal options are available
Contribution limits are increasing

Roth IRA Withdrawals

Contributions are made from your already taxed income and may be withdrawn without penalties or tax liability.

Earnings may be withdrawn after five years if one of the following conditions apply:

You are over age 59 1/2
Funds are going to your beneficiary upon your death
You have become disabled
You are using the funds for a first-time home purchase (lifetime limit is $10,000 per person).

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Multiple retirement account types are available to savers, and may be used in combination with each other. Each account type offers certain tax advantages, which vary according to income and eligibility. Maximum contributions are regulated by federal law and may vary based on your income and the types of accounts you select. Your tax professional is the best source of information about your individual situation.

Savings are insured to at least $250,000 and backed by the full faith and credit of the U.S. Government: National Credit Union Administration, a U.S. government agency.

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