Deferring taxes on your
Traditional IRA means all
of your dividends,
and capital gains can
compound yearly without
being taxed - allowing your
savings to grow much faster
than a taxable account.

FAQ

Why is a Traditional IRA different than a Roth IRA?

The main difference is in the possible tax treatment. Funds you contribute to a Traditional IRA may be tax deductible, and you do not pay taxes until you begin to withdraw money during retirement. With a Roth IRA, your contributions are not tax deductible, and your earnings are not taxed. There are income restrictions and other differences, always consult a tax professional to see what is possible for your specific situation. 
 

When can I withdraw money from my Traditional IRA?

With a Traditional IRA, you can withdraw at anytime, but will pay a 10% penalty plus income taxes if you make a withdrawal before age 59 ½ or older.
 

What is the maximum per year I can contribute to my Traditional IRA?

There are several factors that play into your specific contribution limit, and it can change from year to year. We recommend you consult a tax professional or the IRS website for the most current information.

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This Credit Union is federally-insured by the National Credit Union Administration.
We do business in accordance with the Fair Housing Law.