Why it’s great
- Contributions may be tax deductible, and your money grows tax deferred until retirement*
- No monthly service fee
- Eligible for employer-sponsored qualified plan rollovers
- Available as an IRA Certificate of Deposit
- Federally insured up to $250,000 by NCUA
What to know
- Interest is compounded and credited monthly
- $100 opening deposit
- Maximum yearly contribution limits and spousal IRA rules apply
- Required minimum distributions must begin at 72 years of age
- Contact us for transfer and rollover options
Frequently Asked Questions
What is an IRA?
It is a tax-advantaged account that is designed to help you save for retirement.
How can I invest my money at CRCU in an IRA?
We offer savings and CDs in both Traditional and Roth types of IRAs
What is the difference between a Traditional and a Roth IRA?
The main difference is the type of tax advantages each offers.
What are the tax advantages of the Traditional IRA?
Your money is tax deferred until it is withdrawn.
Can I contribute to an IRA?
Yes, if you have taxable compensation. For IRA purposes, compensation generally is defined as what you earn from working and includes wages, salary, tips, commissions, bonuses, and self-employment income, but not investment or pension income. Consult your tax advisor for details.