Individual Retirement Accounts (IRAs) provide an excellent way to save for the future. Your earnings are sheltered from taxes—allowing your money to grow faster than funds in an ordinary savings account.

At ETFCU, you'll find all the features you're looking for in an IRA:

  • You'll enjoy great rates on your account.
  • ETFCU IRAs feature no set-up or annual fees.

ETFCU offers three types of IRAs:

  Traditional IRA - Returns on your Traditional IRA investment are tax deferred until you make a withdrawal from the account, at which point you pay taxes on all pre-tax dollars. Traditional IRA accounts are a more flexible retirement savings account, meaning the account can be used for other important life events.
  Roth IRA - The Roth IRA is designed for middle-income members who do not qualify for the Traditional IRA annual tax-deductible contribution, but still want to take advantage of tax-free earnings growth.
  Coverdell Education Savings Account - A Coverdell Education Savings Account can be opened for any child under the age of 18 to fund his or her education. Withdrawals from the account are tax-free if used to pay for primary, secondary, or post-secondary education expenses.

Contributions can be made to your IRA for the previous tax year through the April 15 tax deadline. Contact any ETFCU office for more information. Additionally, self-directed IRAs are available through MEMBERS Financial Services at ETFCU.




New Tax Rules Regarding IRAs

New tax rules give more people access to a Roth IRA. Previous
income limits were lifted that prevented some individuals from
converting funds from a Traditional IRA or employer-sponsored
retirement plan to a Roth IRA. IRA owners who convert in 2010
may choose to report the conversion income on their 2010 taxes or report the conversion income ratably over 2011 and 2012.





IRA Contribution Limits

Qualifying IRA owners may contribute up to $5,000 to a Traditional or Roth IRA for tax years 2009 and 2010, and IRA owners age 50 or older can contribute an additional $1,000.

Visit any ETFCU location to open or contribute to your IRA today!



Click here to contact a representative from the ETFCU Investments Department.

Visit our rates section.

 

Privacy Statement  |  Contact Us  |  How to Join  |  Reorder Checks  |  Home

Evansville Teachers Federal Credit Union neither endorses nor guarantees any product, service, information, or recommendation
made at a third party website. A third party site's privacy policy may differ from Evansville Teachers Federal Credit Union's.
Third party websites may provide less security than your credit union's website.

©2004 - 2010 Evansville Teachers Federal Credit Union. All rights reserved.
(812) 477-9271 or 1-800-800-9271

Your savings federally insured to at least $250,000* and backed by the full faith and credit of the United States Government.
The National Credit Union Administration is a U.S. Government Agency.
*Through December 31, 2013

Equal Housing Lender. We do business in accordance with the Federal Fair Housing Law and Equal Credit Opportunity Act.