IRA & IRA Certificates
Traditional & Roth IRAs
An IRA is a great way to save for the future. Learn more about which IRA is right for you. But for now, here's the short answer: With a Traditional IRA, you can fund your account with pre-tax dollars. Only when you make qualified withdrawals do you pay taxes on the money. A Roth IRA is funded with post-tax dollars. Dividends are therefore tax free at retirement. Call us at 503-813-3242 (toll free 866-813-3242) to open your NCUA insured, Passbook savings and/or Certificate of Deposit IRA today.
Individual Retirement Savings Accounts:
- No minimum balance
- Interest compounded monthly
IRA Certificate Of Deposits:
- $1,000 minimum opening balance
- Interest compounded annually or at term of CD
- Terms: 3 months, 6 months, 12 months, or 24 months
Educational Savings Account
Also known as a Coverdell Education IRA, an Educational Savings Account allows for after-tax contributions with a high annual limit per child. And you can keep adding to it until they are 18. Here's the best part: earnings in this account are tax free if distributions are used for tuition, equipment, fees, or room and board.
It's one of the easiest ways to help save for a child's school expenses, whether it's for college, trade school or simply necessary expenses in high school. Call us at 503-813-3242 (toll free 866-813-3242) to open yours today.