1st CCU offers an add-on option or a certificate option to deposit your IRA funds. A New Accounts Rep can assist you with choosing the option that is right for you.

Important Information: Normally, Traditional IRA holders are required to take a minimum distribution from their Traditional IRA during the year they turn 70 1/2; if they fail to take out the Required Minimum Distribution they can be penalized.  President Bush has signed legislation to waive Required Minimum Distribution (RMD) payments for 2009. This means you do not have a 2009 Required Minimum Distribution.  The decision to waive the RMD is only for 2009, and normal RMDs will continue again in the year 2010. Please contact 1st CCU with questions regarding this change.

Traditional IRA
A Traditional IRA offers tax-deferred earnings & the possibility of tax-deductible contributions. These tax advantages make the traditional IRA a powerful tool in creating a balanced, long-term savings plan.

Roth IRA
The Roth IRA offers more incentives to boost your retirement nest egg. Unlike traditional IRA's, your contributions to a Roth IRA are never tax-deductible. However, the money in your Roth IRA, including earnings, can be withdrawn tax-free. Of course, you must conform to plan provisions to get this tax-free advantage.

Education IRA (Coverdell Education Savings Account)
The sole purpose of the Coverdell ESA is to help you pay for your child's education expenses, such as tuition, fees, books & supplies. Contributions to a Coverdell ESA are never tax-deductible. However, a Coverdell ESA offers you the potential for tax-free withdrawals - including earnings.

Current IRA Contribution Limits
Retirement Insurance Coverage
Current rates