An IRA (Individual Retirement Account) is a worthwhile investment program designed to let you save – with many tax advantages – for the future while earning interest. It’s never too early to start building a nest egg for retirement. With CTCU’s variable rate IRA you can start today with only a $10 minimum deposit. With an IRA Share Certificate, your rate is fixed throughout the term you choose, from 3 months and up to 5 years. Share Certificates require a $500 minimum deposit to open.

To choose which IRA is best for you, visit the websites listed on the right for more detailed comparisons, and advice.

To Apply, Become a Member!

Existing CTCU members can open an IRA account by visiting a CTCU branch office.

Member Benefits

• Convenient and easy to begin retirement savings with only a $10 minimum deposit for a Variable Rate IRA.
• Investment is Safe and Risk-free
• Interest earned is tax deferred and deposits may be tax deductible.
• IRA Share Certificate requires $500 to open.

Requirements

• CTCU membership.
• Variable Rate IRA minimum deposit: $10.
• IRA Certificates minimum deposit: $500.
• There is a 90-180 day credit union penalty for early withdrawal of IRA Certificates.
• Maximum contribution for 2008 is $5,000 if under age 50, and $6,000 if age 50 or over.
• Contributions can be made for 2007 until April 15, 2008. Maximum contribution for 2007 is $4,000 if under age 50, and $5,000 if age 50 or over.
• The Internal Revenue Service (IRS) assesses a 10% penalty if a withdrawal is made from an IRA before the age of 59 ½.. See IRA disclosure for full description of benefits and regulations governing IRAs.
• Consult a tax advisor regarding tax savings, penalties and deposit/withdrawal limitations and requirements.

To Apply, Become a Member!

Existing CTCU members can open an IRA account by visiting a CTCU branch office.

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Roth IRA For retirement, education, or 1st home Coverdell Education Savings Acct Help your children realize their dreams Share Certificates (CDs) 3 months - 5 year terms available U.S. Saving Bonds Traditional long range investment Safe Deposit Box When you need it under lock & key Holiday/Vacation Club Accounts Save for a special event or rainy day

Which IRA is Right for You?

• IRAs at a Glance - A helpful chart compares eligibility, and tax limitations of both Traditional and Roth IRAs. (CUNA Mutual)
  

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• Sorting Out Your IRA Options - Two part article explains the factors that indicate which IRA is best for you: Traditional or Roth.
  

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