Individual Retirement Accounts
We have three types of IRA’s at The Family Credit Union.
Traditional IRA
A Traditional IRA may be right for you if you:
- Anticipate a higher tax rate while saving
- Anticipate a lower tax rate during retirement
- Are interested in taking required minimum distributions amounts during retirement
- Are not concerned about tax savings for beneficiaries
Roth IRA
A Roth IRA may be a better fit if you:
- Anticipate a lower tax rate while saving
- Anticipate a higher tax rate during retirement
- Want to avoid required minimum distribution
- Concerned about tax savings for beneficiaries
- Are over the age restriction
Coverdale Education Savings
A Coverdale Education Savings Account can help you save for a child’s education expenses.
- Make nondeductible contributions that provide the potential for tax-free withdrawals
- Consult us for contribution limits
IRA Rollovers
If you currently have a 401k, you can roll it over into an IRA. Come in and talk with us about taking advantage of such benefits as easy account access and investment flexibility.
As always, speak with your tax advisor to see what plan will best fit your needs and your tax situation. The Family Credit Union has teamed up with First Community Trust as our Trust, Investment, and Retirement services partner. First Community Trust is staffed by former credit union professionals that work FOR credit union members.