Individual Retirement Accounts (IRAs)

Your credit union offers a full range of IRA options, allowing you to save for the future and supplement your pension or Social Security benefits.

Traditional IRA

  • Able to invest after-tax dollars
  • Contributions may be tax-deductible*
  • Earnings grow tax-deferred
  • Possible to take penalty-free withdrawals*

Roth IRA

  • Ability to save money for retirement or major life goals
  • Possible tax advantages* (consult a tax advisor)
  • May be able to take penalty-free distributions*
  • No age limits for contributions
  • Tax-free withdrawals of the principal
  • Can contribute past age 70 (if still working)

Educational IRA

  • Ability to save for qualified educational expenses before the child's 30th birthday
  • Parents, grandparents, relatives, friends and even minors (with earned income) can set up an account for any designated beneficiary under age 18
  • Annual contribution limit of $2,000
  • Use funds for eligible college and trade schools, public and private elementary and high schools

Health Savings Accounts (HSAs)

  • Members enrolled in a high deductible health plan (HDHP) may be eligible to make tax-deductible contributions to a Health Savings Account (HSA) for qualified medical expenses. HSAs help balance the rising costs of health care with tax—deferred earnings and possible tax-free distributions.
  • Check or call us for the latest rates, terms, and minimum balance requirements.
  • Consult your tax professional about tax advantages for IRAs and HSAs.
*Consult your tax professional.