At University & Community in Stillwater, OK, we understand your investment needs change from time to time. So, whether your goal is to build a nest egg or save for retirement, we can help you determine the best savings solution for your needs. Individual Retirement Accounts (IRAs) offer you the convenience of flexible terms and the security of federal deposit insurance. Your Credit Union offers Traditional, Roth, and Educational.
- Competitive dividend rates are paid
- Dividends paid monthly on IRA certificates
- Dividends paid quarterly on IRA savings accounts
- Minimum balance of $250 on IRA savings
- Minimum balance of $1000 on IRA certificates
- Traditional IRA
Contributions to a traditional IRA may be tax deductible, depending on your income and whether you are in a qualified retirement plan. There is a maximum contribution of $5500 per year for the aggregate of a Traditional and Roth.
- Roth IRA
The Roth IRA is a retirement planning option that is funded solely by after-tax contributions and offers the possibility of tax-free withdrawal of earnings at retirement. There is a maximum contribution of $5500 per year for the aggregate of a Roth and Traditional.
- Education IRA
An Education IRA has a specified beneficiary – a child under the age of 18 for whom the funds will be used to pay post-secondary education expenses. There is a maximum contribution limit of $2000 per child per year but restrictions may apply depending on your income level. The maximum is in addition to the $5500 limit to contributions made to the aggregate of Roth and Traditional.