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IRA's: A Great Way to Save For Your Future

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!

Traditional IRA

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 1/2 by the end of the year. All earnings in the traditional IRA are not taxed until they are withdrawn. 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.

Roth IRA

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 However the money you contribute to a Roth IRA can be withdrawn tax - and penalty-free at any time!

Educational IRA (Coverdell Education Savings Account)

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.