It's never too early to start building your retirement savings. 1st CCU offers terms up to 60 months, with great rates and IRA options to fit your needs. Let us help you start a new IRA or transfer an existing IRA from any other financial institution. Call 888-706-1228 or stop in to speak with a Member Service Representative!
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.
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. The money in your Roth IRA, including earnings, can be withdrawn tax-free. Must conform to plan provisions to get this tax-free advantage.
Education IRA (Coverdell Education Savings Account)
The 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. A Coverdell ESA offers you the potential for tax-free withdrawals - including earnings.
Your IRA savings are federally insured separately from your regular savings, up to $250,000. Consult your tax advisor regarding income and contribution limits and to obtain further information which may apply to this account.