INDIVIDUAL RETIREMENT ACCOUNTS (IRA’s)

IRAs are no longer considered strictly retirement accounts.  They can also help you pay for college, medical expenses, health insurance premiums, a first-time home purchase, and more.

With an IRA, saving money for your future and saving tax dollars go hand-in-hand.  IRAs offer the luxury of tax-deferred earnings, which cuts your tax bill each year while you save for your goals.  Plus, you may even be eligible for tax-free earnings through ROTH IRAs or tax deductible contributions through TRADITIONAL IRAs.  

PEOPLES COMMUNITY CREDIT UNION CAN OFFER YOU THREE TYPES OF IRAs:  

ROTH
TRADITIONAL
COVERDELL EDUCATIONAL

Q:  What's the difference between the 3 types of IRAs?
A:  With a TRADITIONAL IRA, your contributions may be tax-deductible and earnings are tax-deferred, this means you pay taxes on most IRA funds upon withdrawal.  With the ROTH IRA, contributions are always made with after-tax dollars, but qualified withdrawals are tax free - INCLUDING ALL OF YOUR EARNINGS!  The EDUCATIONAL (Coverdell) IRA has the same requirements as the Roth IRA, except that the contributions do not have to come from compensation.  
 CALL US FOR DETAILS or contact our specialist at msr@peoplesccu.coop