Individual Retirement Accounts
An Individual Retirement Account (IRA) is a personal, tax-sheltered savings plan that allows a wage earner to build a substantial fund and potentially defer or pay no taxes on dividends. In short, IRAs are a smart way to save for the future! Plus, rest easy knowing your IRA is separately insured from your other credit union deposits, up to $250,000.
Types of Accounts and Investments
Brokaw Credit Union offers Traditional and Roth IRAs as well as the Coverdell Education Savings Account and offers the following IRA investments:
IRA Certificate: Terms range from 1-4 years and require a $500 minimum deposit. Your rate is guaranteed for the term of the certificate, and there may be a substantial penalty for early withdrawal.
IRA Savings Account: If you prefer to save smaller amounts regularly, this is the IRA account type for you. Easily deposit funds to this account in person or through direct deposit and watch your savings grow.
Applying is Easy
Now is the time to save for your retirement. Open an IRA by stopping by a branch or start the process by giving us a call at 715-359-7012.