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INDIVIDUAL RETIREMENT ACCOUNTS / ROTH

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Whether you are starting your first job or close to retirement, investing in an Individual Retirement Account (IRA) or a Roth IRA is always a smart decision.

IRA deposits are federally insured (separately from other share accounts) by the National Credit Union Administration (NCUA), an agency of the U.S. Government, up to $250,000. Account balances from $250,000 to $500,000 are insured by Excess Share Insurance (ESI), a private insurer.

Traditional IRA

If you are younger than age 70 1/2 for the entire tax year, and have compensation, you are eligible to establish a traditional IRA. All earnings on your IRA contributions (deductible and/or nondeductible) remain tax deferred until you make withdrawals from the account.

Roth IRA

A Roth IRA allows only nondeductible contributions, but features federal income tax-free withdrawals for certain distribution reasons after a five-year holding period. Eligibility requirements include annual compensation and MAGI limits.