When you log into Online Banking for the first time after our upgrade, you will be required to enter your EXISTING Login ID and Security Code (see below).
Your LOGON ID is your existing online banking login ID. Your Logon ID must contain at least 6 characters. If your login ID is less than 6 characters, you must enter leading zeros to make it the minimum 6 characters.
Your SECURITY CODE is the word security in lower case letters + the last 4-digits of the Primary Account Holder’s Social Security Number.
Example: If the last 4-digits of the Social Security Number are 1234 then your Security Code is security1234
You will be prompted to change your Security Code after first time login in.
If you experience an “unable to validate” error message, then you should delete cookies and cache from your browser. You can also try the login on a different browser. Deleting Cookies and Cache is usually found on your browser’s settings under “privacy”.
Want to be financially prepared for the future?
IRAs are a great way to save! No matter where you are in life, a credit union IRA can play a major role in your financial security. Valley Credit Union offers competitive rates, low minimum deposit requirements*, and no maintenance fees!
An IRA (Individual Retirement Account) is all about helping you build a secure and comfortable future. It’s a smart way to save for retirement while enjoying tax advantages that can make your money go further. Depending on the type of IRA you choose, you can benefit from tax-deferred earnings, tax-free withdrawals, or education-related savings options. No matter where you are in your financial journey, an IRA is a great way to grow your nest egg and feel confident about what’s ahead.
A traditional IRA is a type of retirement plan that offers tax-deferred earnings and the possibility for tax-deductible contributions. You can contribute to a traditional IRA if you earn compensation and you will not reach age 70 ½ by the end of the year. All earnings in the traditional IRA are not taxed until they are withdrawn, meaning your taxable income could be lower during your working years.
However, once you begin taking required minimum distributions (RMDs) at age 73, the withdrawals will be considered ordinary income and subject to income tax. The ability to defer taxes on the earnings, and to withdraw in a year when you may be in a lower tax bracket, can mean more after-tax dollars for your retirement.
A Roth IRA is an individual retirement account that offers more incentives to boost your retirement savings, as well as more ways to use your nest egg. Unlike the traditional IRA, your contributions are never tax-deductible. However, the money you contribute to a Roth IRA can be withdrawn tax- and penalty-free at any time! Additionally, Roth IRA contributions are subject to an annual contribution limit, which varies based on your income. While Roth IRAs do not have required minimum distributions, withdrawals of earnings may be taxed if taken before age 59 ½.
The Education IRA is a type of tax-advantaged savings account. The sole purpose is to help pay for your child’s education expenses such as tuition, fees, books, and in some cases room and board, and computers. Withdrawals for certain qualified education expenses are tax-free – including the earnings!
*With each IRA there is a minimum opening balance of $5.00 and you must maintain a balance of $125.00 to earn the stated APY.
A Traditional IRA allows for tax-deferred growth and potential tax-deductible contributions, while a Roth IRA offers tax-free withdrawals in retirement. The best choice depends on your current and future tax situation.
Yes! You can contribute to both, but your combined contributions must not exceed the annual contribution limit set by the IRS.
It depends. With a Traditional IRA, early withdrawals (before age 59 ½) may be considered ordinary income and subject to income tax and penalties. Roth IRA contributions can be withdrawn at any time without penalty, but earnings may be subject to taxes and penalties if withdrawn early.
Your IRA can include a variety of investment options, such as stocks, bonds, mutual funds, and certificates of deposit. The right choice depends on your retirement planning goals and risk tolerance.
It’s easy! Visit your nearest branch or contact us today to learn more about opening a retirement savings account and securing your financial future.
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