Traditional IRA Share Savings Account

It is more important when you start saving for retirement then how much you save for retirement, and the Traditional 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 Traditional IRA Share Savings account to other investment choices

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


Traditional IRA High Yield Share Savings Account

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

  • It pays our highest 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 Traditional 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 Traditional IRA High Yield Share Savings Account, Click here to Contact Us


Traditional Individual Retirement Arrangement (Traditional IRA) Tax Information

A Traditional IRA is a personal savings plan which allows you to set aside money for retirement, while offering tax advantages. Traditional IRAs provide the following benefits:

  • Contributions may be tax deductible
  • Contributions and account earnings are generally not taxed until they are distributed to you

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

  • You must be younger than 70½ at the end of the tax year to open an account.
  • You must begin taking mandatory distributions from a Traditional IRA upon reaching the age of 70½.
  • You must have taxable wages or self-employment income in order to make contributions to your Traditional IRA.
  • Click here for more information at the IRS website

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 Traditional IRA Term Share Certificates

90 day, 6 month, 12 month, 18 month and 24 month Traditional 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 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 Traditional IRA Term Share Certificates, Click here to Contact Us


36 Month and Greater Traditional IRA Term Share Certificates

36 month, 48 month and 60 month Traditional 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 Traditional IRA Term Share Certificate, Click here to Contact Us

 
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