Traditional IRA Accounts
You can start saving for retirement today with an IRA Share Account or an IRA Share Certificate. Set up an automatic transfer for any designated amount to an IRA Share Account and watch your money grow.
- Independence, and can be opened and funded without any employer participation,
- Immediate tax benefits, with contributions and/or earnings tax-deferred until retirement,
- Accessibility, with assets always available (something not generally true of employer plans), and
- Flexibility, because IRA owners choose their contribution amount (within limits), investments, and the financial organization.
- Must be under age 70½, and
- You or your spouse has earned income from employment.
- You can make a catch-up contribution each year of $1,000 if you are age 50 or older.
You don't pay taxes on earnings or pre-taxed dollars in your IRA until you begin receiving distributions. The required beginning date to receive distributions is no later than April 1 following the year in which you reach age 70½.
Opening an IRA is quick and easy. Simply visit any one of our branches and a Member Service Representative will be happy to meet with you.