Roth IRA Share Savings Account

It is more important when you start saving for retirement then how much you save for retirement, and the Roth IRA Share Savings account lets you get started right away.

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  • It has a low opening balance requirement of only $50.00, and it pays you a great dividend rate
  • Using direct deposit, you can start saving as little as $1.00 per pay
  • It saves you money, because the Credit Union charges no fees on our IRA accounts
  • It provides you flexibility, because you can roll the money in your Roth IRA Share Savings account to other investment choices

To Open a Roth IRA Share Savings Account, Click here to Contact Us


Roth IRA High Yield Share Savings Account

The Roth IRA High Yield Savings account provides our best IRA savings account dividend rate, flexibility and convenience.

  • It pays our highest IRA savings account dividend rate on a monthly basis
  • It saves you money, because the Credit Union charges no fees on our IRA accounts
  • It provides you flexibility, because you can roll the money in your Roth IRA High Yield account to other investment choices
  • It provides you the convenience of saving with Direct Deposit from your paycheck or money at other financial institutions

To Open a Roth IRA High Yield Share Savings Account, Click here to Contact Us


Roth Individual Retirement Arrangement (Roth IRA) Tax Information

A Roth IRA is a personal savings plan which allows you to set aside money for retirement. Unlike a Traditional IRA, contributions to a Roth IRA are not tax deductible and are limited by the amount of your annual taxable compensation. Roth IRAs provide the following benefits:

  • Qualified distributions are tax free
  • There is no age limit to open or contribute to a Roth IRA
  • You can leave money in your Roth IRA for as long as you live

Internal Revenue Service (IRS) restrictions on a Roth IRA:

  • You must have taxable wages or self-employment income in order to make contributions to your Roth IRA
  • Contributions to a Roth IRA are prohibited if your Modified Adjusted Gross Income exceeds specific targets for each tax filing class

The maximum annual contribution limit is the lesser of:

  • $5,000.00 (higher if you are aged 50 and older) OR
  • Your taxable compensation for the year
    • Please note the $5,000.00 limit will increase by $500.00 per year starting in 2009.
  • If you have more than one IRA, the limit applies to the total contributions made to all of your Traditional and/or Roth IRAs for the year.

< 36 Month Roth IRA Term Share Certificates

90 day, 6 month, 12 month, 18 month and 24 month Roth IRA Term Share Certificates provide you a high fixed rate of return with the flexibility to plan or ladder your certificate maturities to meet your personal needs.

  • These certificates pay high fixed rate quarterly dividends with a low opening balance of only $500.00
  • These certificates automatically renew at our current rates giving you the peace of mind that your money is always invested at our highest rates

To Open a Roth IRA Term Share Certificates, Click here to Contact Us


36 Month and Greater Roth IRA Term Share Certificates

36 month, 48 month and 60 month Roth IRA Term Share Certificates pay our highest dividend rates today and allow you to "Bump" your rate higher during the term of the certificate.

  • These certificates pay our highest fixed rate quarterly dividends with a low opening balance of only $500.00 and provide you with a specific number of dividend rate Bumps
  • These certificates automatically renew at our current rates giving you the peace of mind that your money is always invested at our highest rates
  • To exercise a certificate dividend rate Bump, simply contact the Credit Union to request the current Credit Union rate for your certificate term, and you will receive the new higher rate until your certificate matures or you Bump the rate again

To Open a Roth IRA Term Share Certificate, Click here to Contact Us

 
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