An Individual Retirement Account (IRA) enables you to save for the future.
It also helps you to set strategies to reach defined goals. There are numerous ways to save with an IRA, depending upon your needs and age. Whether you’re saving for retirement, education, or another purpose, at 1st Ed Credit Union, we offer the IRA choices and expertise you need.
Traditional IRAs
Take advantage of tax-deductible contributions now and build earnings until you need them.
- Earnings grow tax-deferred
- Contributions may be fully-, partially-, or non-tax deductible
- Make contributing easy with automatic transfers, Payroll Deduction, or Direct Deposit
- Make contributions until April 15th for the previous tax year
- Withdrawals may begin at 59 ½ without penalty
Roth IRAs
Roth IRAs give you the ability to pay taxes now, and reap the benefits in the future. Contributions are made with after-tax dollars and can be withdrawn tax- and penalty-free at any time, for any reason.
- Flexible and convenient
- Contributions made with after-tax dollars
- Enjoy penalty-free withdrawals
Click here to view the IRS comparison chart for more information on Traditional and Roth IRAs
Open or Manage Your IRA
Visit the 1st Ed IRA Service Center today. You’ll love this useful tool – you can plan for retirement, open an IRA, and monitor or make adjustments to an existing IRA.
IRA Accumulation (Traditional,Roth,Education)
| Info and/or Terms | Interest Rate | APY |
|---|---|---|
| IRA Accumulation | 0.25% | 0.250% |
*APY=Annual Percentage Yield. Earnings are compounded and credited monthly. Rates are subject to change at any time without prior notice.
The content on this page is for informational purposes only, please consult your tax advisor about your particular situation. IRA and Education Accounts are subject to Regulation D. Learn more here.
Your savings are federally insured up to $250,000 and backed by the full faith and credit of the United States Government by National Credit Union Administration (NCUA), a U.S. Government Agency.