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IRA Savings

Traditional and Roth accounts are available for your future saving goals and insured to $250,000 by the NCUA. IRA contributions may be tax deductible or tax deferred (ask your tax advisor for information). Dividends paid quarterly. Contribution limit for 2020/2021 is $6,000. If within the tax year you will be age 50 or older you can contribute an additional $1,000.

Click links to learn more about Traditional or Roth IRAs.  New Deposit Policy limits to $100,000.

IRA Comparison
Item Traditional Roth
Deductible Contributions? Yes No
Tax Deferred Earnings? Yes Not after Age 59 1/2
Early Withdraw Penalty? Yes, 10% prior to 59 1/2 No
Contributions Age Limited? Yes, at 72 No
Withdrawal Requirement? Yes, at 72 No

IRA can help you save for retirement:

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Move Retirement Savings without losing tax benefits:

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Is it time to cash in on your retirement savings:

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Understanding your beneficiary distribution options:

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Review Link Attachments for more details.