Individual Retirement Accounts

IRAs allow you to make tax-deferred investments to provide financial security when you retire.

Types of IRAs

  • Traditional IRA is a tax-advantaged personal savings plan where contributions may be tax deductible.
  • Roth IRA is a tax-advantaged personal savings plan where contributions are not deductible but qualified distributions may be tax free.
  • Payroll Deduction IRA plan is set up by an employer. Employees make contributions by payroll deduction to an IRA (Traditional or a Roth IRA) they establish with a financial institution.
  • SEP is a Simplified Employee Pension plan set up by an employer. Contributions are made by the employer directly to an IRA set up for each employee.
  • SIMPLE IRA plan is a Savings Incentive Match Plan for Employees set up by an employer. Under a SIMPLE IRA plan, employees may choose to make salary reduction contributions, and the employer makes matching or nonelective contributions.
  • SARSEP – the Salary Reduction Simplified Employee Pension Plan – is a type of SEP set up by an employer before 1997 that includes a salary reduction arrangement.

Call the credit union for more details about IRAs.

Benefits of Credit

When faced with the choice at the checkout, selecting the credit option over debit presents several advantages.

Loans

*APR as low as, ask for details. All rates are dependent on your credit rating.