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IRA Accounts

Postal Family Credit Union can help you plan to make the most of your retirement, and enjoy your next phase of life, with an IRA (Individual Retirement Account). We offer several types of IRA Plans to help you save your way, which can then be used to fund an IRA Certificate. You may invest your IRA funds into a standard IRA Certificate; choosing from an 18, 24 or 60-month term. Or, open a 12-month IRA Payroll Deduction Certificate and contribute a minimum of $25 per payday.

IRAs can offer tax advantages and supplement other retirement investment plans you may have. You may wish to speak with your tax advisor regarding which IRA plan is best for you.

To open an account, stop by the branch or give us a call today.

Traditional IRA

With a Traditional IRA, contributions made to your IRA may be tax deductible and your earnings are not taxed until they are withdrawn (if qualifications are met). You can begin withdrawing funds from your Traditional IRA after age 59 ½ without penalty, and must begin taking annual minimum distributions between age 70 ½ to 73 (depending on your birth year).

Roth IRA

Contributions made to a Roth IRA are not tax deductible, but your earnings may be withdrawn tax-free when requirements are met. There is no age cut-off for making contributions to a Roth IRA, and the account is not subject to the Required Minimum Distribution (RMD) rules.

Coverdell Education Savings Account

Get a jump start on saving for your child's education with a Coverdell ESA. You may make contributions on behalf of the child until they reach 18. When the ESA funds are used to pay for qualified education expenses, the contributions and earnings are disbursed tax-free.

Anyone can help your child prepare for future success by contributing to the child's ESA, as long as they meet the modified adjusted gross income requirements, with maximum yearly contribution limits of $2,000.

To open an account, stop by the branch or give us a call today.

IRA Resource Brochures (PDFs)