We offer the following options for IRAs:
– IRA Club Account
– IRA Certificates of Deposit
– Traditional IRA (federally insured by the NCUA up to $250,000). You may be able to use this retirement option for a tax deduction. You can pay taxes on the amount taken at the time of withdrawal or when you file your taxes.
– Roth IRA (federally insured by the NCUA up to $250,000). In this retirement option, taxes are taken from compensation immediately.
Other important information about our IRAs:
1. We have six-month, one-year, 18-month, three-year, four-year, and five-year terms available.
2. A penalty may be imposed for early withdrawal from our IRA accounts.
3. The IRA contribution limits for 2017 are $5,500 for those under age 50, and $6,500 for those age 50 and over.