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Certificates and IRA's

Share Certificates

  • Federally insured by the NCUA.
  • Dividends are added onto the Share Certificate monthly, or
  • Members may request dividends to be added to their regular share account or sent to them each month by check.
  • Maturity notices are sent to members prior to maturity.
  • Certificates are automatically renewed at the current rate for the same term.
  • Rates are fixed at the time the certificate is purchased.
  • Some restrictions/limitations apply - Contact CCU for more details.

 

Traditional IRA's

  • Federally insured by the NCUA.
  • Earnings are tax deferred.
  • Contact a credit union representative for information on contributions.
  • Tax Penalties may be assessed by the IRS for excessive contributions, distributions, and/or failure to meet minimum distribution requirements.
  • IRA earnings are tax-deferred until withdrawn and then must be declared as income.
  • Consult your tax advisor
  • Some restrictions/limitations apply - Contact CCU for more details.

 

Roth IRA's

  • Federally insured by the NCUA.
  • IRA contributions are not tax deductible, but withdrawals may not need to be declared as income.
  • Consult with your tax advisor.
  • Tax Penalties may be assessed by the IRS for excessive contributions, distributions, and/or failure to meet minimum distribution requirements.
  • Contact a credit union representative for information on contributions.
  • Some restrictions/limitations apply - Contact CCU for more details.

 

Coverdell Educational IRA's

  • Federally insured by the NCUA.
  • IRA contributions are not tax deductible, but withdrawals used for qualified higher education expenses are tax-free.
  • A great way to save for educational expenses. * Tax Penalties may be assessed by the IRS for excessive contributions, distributions, and/or failure to meet minimum distribution requirements.
  • Maximum contributions are currently $2000 per year, per child.
  • Some restrictions/limitations apply - Contact CCU for more details.