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IRAs & Education Saving Accounts

Individual Retirement Accounts

IRAs (Individual Retirement Accounts) offer you long-term savings and certificate options for important stages in your life. Traditional IRAs, with tax-deferred dividends, and the Roth IRA are designed for retirement savings. Each type of account can offer substantial tax savings; consult with your tax advisor. What's more, funds in IRAs are separately insured from other accounts for up to $250,000 by the National Credit Union Administration (NCUA).

Traditional IRA

A Traditional IRA can be open and funded without any employer participation. It offers immediate tax benefits, with contributions and/or earnings tax-deferred until retirement.

Traditional IRAs offer flexibility because there is no minimum contribution in any year.

Roth IRA

The Roth IRA provides no tax deduction for contributions; however, the money you contribute grows tax-deferred. If you do not withdraw any of the earnings until you have had the Roth IRA for at least five years and have a qualifying event, those tax-deferred earnings become tax-free. Other benefits include avoiding the early distribution penalty on certain withdrawals and avoiding the need to take minimum distributions after age 70½.

SmartSaver IRA

Our SmartSaver IRA offers a great way to save for retirement. With a unique tiered structure, the more you save, the more you earn. Plus, deposits are insured up to $250,000 by NCUA, a U.S. government agency. Check out our competitive rates, and transfer your IRA today.

Coverdell Education Savings Account

The Coverdell Education Savings Account (CESA) helps you put aside money for a young person's elementary, secondary, and/or college education. It lets you contribute up to $2,000 per year for each beneficiary. Your money is allowed to grow on a tax-deferred basis until it is withdrawn. If these withdrawals are used to meet qualified education expenses, such as college tuition, no taxes are due. We offer you flexible options, too. You can deposit your funds in a certificate for optimum return, or you can deposit them in a savings account for optimum flexibility.