Individual Retirement Account (IRA):
The Credit Union offers no-risk IRA products providing stable returns to help you plan for retirement. Members can contribute up to a certain limit each year (see chart below) or 100% of earned income, whichever is less. Contributions may be tax deductible.
Traditional IRA: Earnings grow tax-deferred, but are taxable as income upon withdrawal. Contributions may be tax deductible. Click here to download the form or call (914) 923-3608.
Roth IRA: Contributions are taxed up-front, but the earnings will grow tax-exempt, and you will not be charged income tax upon withdrawal if you meet the requirements for a qualified distribution. Click here to download the form or call (914) 923-3608.
IRA Savings: Not ready to contribute $500 to an IRA? Don't worry. Open an IRA savings account with a minimum deposit of $20 and make additional contributions when you can. The savings can be either Traditional or Roth accounts. Click here to apply.
For more information, or to open an IRA Account, please contact us using our secure contact form or call (914) 923-3608.
*APR = Annual Percentage Rate
**APY = Annual Percentage Yield