IRAs
sweat now. relax later.
Everyone wants to retire someday. Not everyone goes about planning it in the same way. At Allegacy, we offer a variety of Individual Retirement Account (IRA) options that you can use to fund your future, provide for a child’s education, and meet your needs.
Traditional + Roth
Decide whether to contribute before or after taxes, with either a Traditional or Roth IRA
Certificate IRA
Save on taxes while earning at a competitive certificate rate, available in flexible increments
Coverdell IRA
Pay your child’s college tuition through the Coverdell Education Savings IRA
More about IRAs
We offer a variety of Individual Retirement Accounts (IRAs), each with its own set of tax benefits, growth strategies and timelines.
Traditional IRA
The money you contribute to a traditional IRA is tax-deductible – so you can write off your contributions and enjoy years of tax-deferred growth. You won’t have to pay taxes on these funds until you withdraw them.
If you do withdraw after retiring, you may find yourself in a lower tax bracket at that point. If so, you may get to pay a lower tax rate on the money you’ve saved.
Roth IRA
With a Roth IRA, you contribute money you’ve already paid taxes on. Although you can’t deduct your contributions, after five years, you can withdraw what you’ve saved tax-free.
Certificate IRA
Save for retirement with a Certificate, earning tax-deferred or tax-free interest at certificate dividend rates. Your funds remain in the certificate for a predetermined timeframe: three months, six months, nine months, 12 months, 18 months, two years, three years or five years.
Once the increment is up, your savings will have matured, and you can withdraw the money with no Allegacy penalty.* (It is possible to withdraw it sooner, but penalties apply.)
Coverdell Education Savings IRA
Use penalty-free, tax-free distributions to pay for your child’s college tuition. Contributions are non-deductible.
Open an account
Sign up for an Allegacy IRA account today.You might like ...
Here are a few other resources, pages and articles you might enjoy.
Pay Down Debt or Save for Retirement?
You can use a variety of strategies to pay off debt, many of which can cut not only the amount…
Smart Ways to Use the Equity in Your Home
At Allegacy Federal Credit Union, we believe in doing the right thing for your wellbeing and that includes making sure that…
Save money. Create Memories.
At Allegacy Federal Credit Union, we believe that to be your best, some well-deserved family fun time is an important…Become a member
Make plans. Create your tomorrow.Disclosures
- Other tax penalties may apply. Allegacy does not provide legal or tax advice. For such advice, please contact tax or legal professional.