an IRA is a great way to save
It may seem a million years away but the fact is, the earlier you begin to save for your retirement, the more secure you’ll be. Start today by opening an Individual Retirement Account (IRA) with us and building tax-deferred* savings for your future.
Tax season is the perfect time to put away some of your annual earnings. Open an IRA before tax day, or deposit your tax refund into an IRA. Either way, you’ll watch your savings grow tax-free!
WE OFFER COMPETITIVE RATES ON BOTH TRADITIONAL AND ROTH IRAS
Let West Community Credit Union help secure your future with our stable IRA options:
TRADITIONAL IRA: The benefit of a Traditional IRA is that your contributions are tax deductible. Taxes come due in retirement when you take distributions, or make withdrawals, from your IRA.
ROTH IRA: A Roth IRA operates in reverse of a Traditional IRA: You pay taxes up front, meaning your contributions are not deductible. The benefit of a Roth IRA is that your withdrawals in retirement are not taxed.
IRAs are perfect for:
- The self employed
- Those without a 401K plan through their employer
- The fortunate few who will max out their allowable annual 401K contribution.
- Anyone who plans to retire!
IRA CERTIFICATES OF DEPOSIT
Traditional and Roth IRAs are available from 12-month to 5-year terms with competitive interest rates and a $500 minimum with no annual maintenance fees. Payroll deduction to a savings account is available.
*See your tax advisor for guidance. West Community Credit Union does not provide tax advice.
The money you place in your Credit Union savings account is federally insured up to $250,000 by the National Credit Union Administration (NCUA), the strongest government insurance fund in the country.