Individual Retirement Accounts – Still



Individual Retirement Accounts – Still a Smart Way to Save

The Great Recession took its toll on many retirement accounts. But that doesn’t mean you should give up on saving for your retirement. Saving money in a Traditional or Roth Individual Retirement Account Certificate provides a tax-advantaged way to set funds aside for the future. Our IRA certificate benefits include:

  • Minimum deposit of $500
  • 1 year fixed term
  • Accept “rollover” funds from other qualified retirement plans or other financial institutions

According to the Internal Revenue Service, you can set up and make contributions to a Traditional IRA if you (or, if you file a joint return, your spouse) received taxable compensation during the year, and you have not reached age 70 1/2 by the end of the year. You may be able to deduct your contributions to a Traditional IRA depending on your income, filing status, whether you are covered by a retirement plan at work, and whether you receive social security benefits.

You can contribute after-tax dollars to a Roth IRA, but the earnings accumulate tax-free. You can make contributions to your Roth IRA regardless of your age. For details, visit and view Publication 590, or ask your tax adviser.


The sooner you get started, the sooner you will earn interest, so stop by the credit union or call one of our helpful Member Service Representatives to assist you in opening your IRA today.

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