IRAs

An IRA (Individual Retirement Account) enables you to make tax-deductible contributions to your retirement savings. The earlier you start, the more your investment will grow — without the ups and downs of the stock market.

Traditional IRA

With a traditional IRA, members can contribute up to $6,000* per year with earnings that continue to grow tax-deferred. Members over age 50 may contribute up to $7,000* per year, using the catch-up provision. Contributions are made with pre-tax funds; you won’t pay tax until withdrawals begin, starting at age 59 ½.

Because you’re setting aside funds for a specified term, you’ll earn a higher yield. Terms range from 12 to 36 months, and as your IRA matures, funds can be rolled over into a new IRA term. Preparing for a comfortable retirement and reducing your taxable income are just a few of the benefits.

  • Enjoy your retirement more.
  • Reduce your tax burden today.
  • Earn dividends that are also tax-deferred.
  • Funds are NCUA insured.

*Maximum annual contribution is determined by the prevailing IRS regulations and is subject to change.

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