Your golden years deserve to be free of financial worry. Get there with an IRA that helps you save for that endless vacation.
- Competitive Dividends
- No Setup or Maintenance Fees
- Tax Advantages*
- Save for retirement with tax advantages1
- Competitive dividends above standard savings rates
- Traditional and Roth IRA options
- No setup fees, monthly or annual maintenance fees
- Annual contribution limits apply (see current contribution limits; $6,000 as of 2021)1
- Additional $1,000 "catch-up" contribution allowed for ages 50+
- Funds can be used to purchase share certificates within IRA
- Deposit insurance up to $250,000 by NCUA
- $25 minimum deposit to open, $0 for IRA money market accounts
We’ll Help Get You There
Retirement Central gives you practical ideas you can apply today to help you achieve financial security in retirement.
1Consult a tax advisor.
There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.
- No income limits to open
- No minimum contribution requirement
- Contributions are tax deductible on state and federal income tax1
- Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
- Withdrawals can begin at age 59½
- Early withdrawals subject to penalty2
- Mandatory withdrawals at age 72
- Income limits to be eligible to open Roth IRA3
- Contributions are NOT tax deductible
- Earnings are 100% tax free at withdrawal1
- Principal contributions can be withdrawn without penalty1
- Withdrawals on dividends can begin at age 59½
- Early withdrawals on dividends subject to penalty2
- No mandatory distribution age
- No age limit on making contributions as long as you have earned income
1Subject to some minimal conditions. Consult a tax advisor.
2Certain exceptions apply, such as healthcare, purchasing first home, etc.
3Consult a tax advisor.
The Coverdell Education Savings Account is a savings plan for those wishing to fund higher education expenses of a designated beneficiary. The earnings will be tax free if used for qualified education expenses.
- Set aside funds for your child's education
- No setup or annual fee
- Dividends grow tax free
- Withdrawals are tax free and penalty free when used for qualified education expenses1
- Designated beneficiary must be under 18 when contributions are made
- To contribute to an ESA, certain income limits apply2
- Contributions are not tax deductible
- $2,000 maximum annual contribution per child
- The money must be withdrawn by the time he or she turns 303
- The ESA may be transferred without penalty to another member of the family
- No minimum deposit to open
1Qualified expenses include tuition and fees, books, supplies, board, etc.
2Consult your tax advisor to determine your contribution limit.
3Those earnings are subject to income tax and a 10% penalty.
*Consult a tax advisor.