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IRAs from SLFCU and MEMBERS Financial ServicesWe offer Roth and traditional savings plans for retirement and Education Savings Accounts
The Roth IRA is an account that allows only nondeductible contributions but features tax-free withdrawals for certain distribution reasons after a five-year holding period.
The Traditional IRA is an account that allows you to defer taxes on the earnings on your contributions until they are withdrawn. Also, certain contributions may be tax deductible in the tax year for which they are made.
Education savings accounts (formerly named Education IRAs). Contribute up to $2,000 per year to an education savings account per child. Make contributions anytime after a child is born until the child's 18th birthday (with an exception for special needs beneficiaries). Although contributions aren't tax deductible, earnings accumulate tax deferred. Then withdrawals to pay qualified higher education expenses and qualified elementary and secondary education expenses are free from federal taxes.
Open an IRA Share Savings Account for as little as $5, and watch it grow by making regular deposits through payroll deduction. Monitor your investment with detailed monthly and annual statements.
SLFCU IRAs are safe investments for the future. They are federally insured up to $250,000 by the NCUA, a U.S. Government Agency.
Your account can be set up as IRA Share Savings or IRA Share Certificates. There are no maintenance fees for either account.
Open an SLFCU IRA by calling call 293-0500, 1-800-94-SLFCU or visit CU@home®.
You can also open IRA Investment Accounts at MEMBERS Financial Services.
Learn more about IRAs at My Financial Center or contact a MEMBERS Financial Services Representative by using the links to your right.
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