Individual Retirement Accounts

With an IRA (Individual Retirement Arrangement), you choose the plan that's right for you to help secure your financial future. They may offer an excellent tax-deferred investment. SFCU offers the traditional IRA, as well as the Roth IRA. Money invested in any IRA can be deposited to IRA Share Certificates to earn higher dividends. Be sure to seek competent tax advice about your specific IRA investments. Start saving today with SFCU!

• A one-time, low set-up fee
• No minimum deposit required
• Convenient deposits through payroll deduction
• Attractive rates
• Traditional IRA deposits may be tax deductible
• IRAs are federally insured by the National Credit Union Administration, a U.S. Government Agency

Choose a Traditional IRA or a Roth IRA

Traditional IRA: A traditional IRA offers tax deferred earnings and the possibility for tax-deductible contributions. All earnings in the Traditional IRA are not taxed until they are withdrawn.

Roth IRA: The Roth IRA allows you to contribute (depending on your income) after-tax dollars with earnings growing tax free. You pay no taxes when you withdraw the money, provided you have had the account for at least 5 years and you're age 59 1/2 or older. In addition, you may withdraw, without penalty, up to $10,000 for a first-time home purchase. Another Roth IRA benefit is that you don't have to begin withdrawing money at age 70 1/2, unlike a traditional IRA.