An Individual Retirement Account (IRA) is like a 401(K) plan but for individuals. An IRA is a savings account that lets you invest and grow your money for retirement in a tax-advantaged way. IRAs are designed for tax-free or tax-deferred savings growth. Thanks to those tax-advantages, you'll save more money now and for FUTURE YOU.
There are more reasons why IRAs are a great tool to grow your retirement savings. IRA accounts, since they belong to YOU (the individual) and are exclusively yours. Any Member with a taxpayer identification number (i.e., social security number), regardless of age, can open and contribute to an IRA account. That means it's EASY to open and begin immediate contributions to an IRA account.
How it Works:
Simply add money to your IRA over time and watch your investment grow. Eventually, investments can be withdrawn to provide income for retirement. There are two main types of IRAs. Both are tax-deferred as long as the money remains in the IRA:
Invest in yourself! Open an IRA account!
To offer our Members even more great benefits, we have a partnership with Ascensus, the largest independent retirement services provider in the United States. This partnership allows Members to easily complete IRA documents online before being sent to the Credit Union for processing. Invest in yourself today!