IRAs

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CTCU Individual Retirement Accounts (IRAs)

IRAs


Individual Retirement Accounts (IRA)

A traditional IRA is a way to save for retirement that gives you tax advantages.

  • Contributions you make to a traditional IRA may be fully or partially deductible, depending on your circumstances.
  • Generally, amounts in your traditional IRA (including earnings and gains) are not taxed until distributed.
Source https://www.irs.gov/retirement-plans/traditional-iras

CTCU offers two types of IRAs for you to choose from.

IRA Type

Traditional IRA

Under 50 Contribution Maximum$6,000
Over 50 Contribution Maximum$7,000
Exceed CompensationNO
APY*1.00%
RestrictionsReduces contributions that can be made to Roth IRAs
IRA Type

Roth IRA

Under 50 Contribution Maximum$6,000
Over 50 Contribution Maximum$7,000
Exceed CompensationNO
APY*1.00%
RestrictionsReduces contributions that can be made to Traditional IRAs
Rates effective as of November 5, 2018. Rate subject to change at any time. Minimum deposit of $20.00 required to open an IRA. Dividends are compounded quarterly. Minimum balance of $1,000 is required to earn dividends. *APY = Annual Percentage Yield. **1.00% Dividend Rate

IRA Term Share Certificates

IRA Certificates are available for Members with Individual Retirement Accounts. IRA Certificates give you added flexibility within your IRA.

*See current rates and full disclosures.

Still have questions about planning for you future?

We can help! Give us a call at 903-561-2603 or 1-877-662-2828.

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