IRA's ( Individual Retirement Accounts )
Preparing for educational expenses and planning for retirement is made easier with PeoplesChoice IRA products. Our IRAs can earn higher dividend rates by investing in IRA Term Share Certificates. Some IRA products can provide you with an excellent tax shelter on your contributions and earned dividends.
We offer three different individual retirement accounts:
TRADITIONAL IRA
- Penalty-free withdrawals are allowed for first-time home buyers and qualified higher educational expenses.
- Contributions and earned dividends are tax-deferred.
- Many tax payers will be eligible for tax deductible contributions.
ROTH IRA
- Contributions may be withdrawn tax-free and penalty-free at any time for any reason.
- Contributions are not tax deductible.
- Tax-free and penalty-free earned dividends are available for withdrawal as long as the account has been open for at least five (5) years and you are over 59 1/2 years old, or are disabled, or buying your first home or are deceased.
EDUCATIONAL IRA
- Allows contributions up to the age of 18 years.
- Money may be withdrawn tax-free if used to pay for higher educational expenses before reaching age 30.
- Tax-free withdrawals for qualified higher educational expenses.
Make saving convenient by signing up to make IRA contributions through an automatic transfer. That means no trips to your Credit Union. Plan for tomorrow by opening a PeoplesChoice Credit Union IRA today!
This Credit Union is federally insured by the National Credit Union Administration.
You may click on the NCUA Share Insurance Estimator link below to help you understand your share insurance protection.
NCUA Share Insurance Estimator*
