Save for Retirement with an IRA
- Consider an IRA as a tax-advantaged way to save for retirement while earning a competitive yield.
- Rest assured your IRA retirement funds are safe and insured separately up to $250,000 by the NCUA.
- Build your IRA with low minimum deposits of $100. Or with a minimum of $2,500, open a one-year IRA Share Certificate for a higher rate of return.
- Choose a Traditional IRA for the following benefits:
- Reduce your current taxable income, with the possibility of tax-deductible contributions.
- Accumulate earnings tax-deferred until withdrawn.
- Pay no penalty for qualified distributions such as a first-time home purchase (up to $10,000 lifetime limit), higher education or certain medical expenses.
- Select the Roth IRA for these advantages:
- Make after-tax contributions and withdraw them at any time without paying federal taxes or penalties.
- Defer taxes on earnings or make tax free withdrawals of earnings in some circumstances, such as a first home purchase (up to $10,000 lifetime limit).
- Save tax-free well into your retirement, with no mandatory distributions at age 70 ½.
*Consult a tax professional for tax advice.