An Individual Retirement Account, or IRA, is a savings and investing account.
IRAs are an essential tool for saving for the future, especially if you don't have an employer-sponsored retirement plan like a 401(k) or a 403(b) or are self-employed. Even if you’re saving for retirement with a plan such as a 401(k), supplementing your savings with an IRA provides flexibility and a boost to your overall savings.
Our IRA features:
- Just $50 to open.
- There are no contribution limits if you’re rolling over an old 401(k) into an IRA.
- Traditional IRA contributions may be tax-deductible; withdrawals in retirement are taxed as income.
- Roth IRA contributions are not deductible, but withdrawals in retirement are tax-free.
- Rates are set by the Board of Directors, and dividends are paid quarterly.
For more information regarding our IRA accounts please contact our Member Services Department.
Coverdell Education Savings Accounts (ESAs)
- A great way to help pay for your child’s educational expenses, such as tuition, fees, books, supplies, and equipment
- Your earnings grow on a tax-deferred basis and distributions are tax-free if the money is used to pay qualified education expenses.
- Yearly contributions cannot exceed $2,000 per child.
- Anyone, family member or non-family member, can contribute to a child's ESA.
- Contributions can be made until he or she reaches the age of 18.*
- ESA contributions do not affect your ability to make Traditional or Roth IRA contributions.
- Rates are set by the Board of Directors and dividends are paid quarterly.
Give your child the gift of education. For more information about our Coverdell ESAs please contact our Member Services Department.
*The age 18 limit does not apply to special needs individuals.
Learn more about your IRA Options
Traditional and Roth IRAs
Simplified Employee Pension (SEP) Plans Brochure
Transfers, Rollovers, and Conversions
IRA and Retirement Plan Distributions
Health Savings Accounts