Whether you want a Traditional, Roth, or an Education IRA, your credit union offers you choices in how your money is invested, to give you the highest rate of return for your situation. 

Traditional

• Contributions may be fully tax-deductible;
• Earnings grow tax-deferred until withdrawn;
• Early withdrawals can be made penalty-free for qualifying reasons such as higher education expenses, first- time home purchases, qualifying medical expenses and more.

Roth

• Contributions are not tax-deductible, but can be withdrawn tax and penalty-free at any time;
• Earnings can be withdrawn penalty-free for the same qualifying reasons as Traditional IRA’s;
• Earnings are tax-free if the account has been open for five years and withdrawn for a qualified reason;
• And you are not required to begin withdrawals at age 70 ½.

Education

• Contribute up to $2000 per year on a child’s behalf
• Contributions are not tax-deductible, but can be withdrawn tax and penalty-free for qualified higher-education expenses;
• Funds can be transferred from one child’s account to another in the family.

We are ready to help you set up a new IRA, or to assist you with the "rollover" of an existing IRA to Neighbors FCU. To find out more about the choices offered with high-earning IRA’s from your credit union, contact us or visit one of our locations.