Credit Union West - So much more than money

INDIVIDUAL RETIREMENT ACCOUNTS

Whether it’s for your child’s education or your retirement, an IRA is a great way to plan for the future. Talk with your tax advisor about which type of IRA is right for you.

Traditional IRA

* Contributions may be tax-deductible
* No penalties for certain withdrawals
* Mandatory distributions starting at age 70 1/2

Roth IRA

* Earnings are tax-free
* Certain withdrawals are tax-free after five years
* No mandatory distributions

Coverdell Education Savings Account (ESA)

* Child must be under 18 or have special needs
* Tax-free, penalty-free distributions for qualified education expenses

IRA Savings

* Open it with as little as $5 by deposit, rollover, or transfer from another financial institution
* Contribute to it anytime, or regularly with automatic transfer

IRA Certificate

* Open it with as little as $500 by deposit, rollover, or transfer
* Lock in a higher yield for 6-60 months
* Enjoy the option of automatic renewal

Maximum allowable annual contribution

* $5,000 in a Roth or Traditional IRA for members 49 and younger
* $6,000 in a Roth or Traditional IRA for members 50 and older
* $2,000 in a Coverdell ESA

Open one or several of these federally insured, high-yield, no maintenance fee IRAs. IRAs insured up to $500,000*.

Click here for Share and Certificate Rate information.

*IRA accounts are insured to $250,000 by the NCUA, a US government agency, and to $250,000 by American Share Insurance at no cost to you! Please refer to Membership & Account agreement for complete details and restrictions on these accounts.