Individual Retirement Accounts
Start saving for your future with an Individual Retirement Account. These products are brought to you by Telcoe Federal Credit Union. We also can assist with rolling over an 401k into an IRA. During your working years, it's not uncommon for your career to take many twists and turns. Americans, on average, have worked 12 different jobs by the time they turn 52 years old. Instead of cashing out an IRA, you can rollover to Telcoe and avoid taxes or penalties.
Choose an Individual Retirement Account
TRADITIONAL IRA
Start relaxing today. Contributions to your traditional IRA may be tax deductible — and earn dividends above standard savings rates.1
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START RELAXING TODAY
- A secure method for investing in your retirement
- Contributions are generally tax deductible, up to allowable limits 1
- No setup fees
- If the account is below $1000 on December 31st, there will be a maintenance fee
- No income limits to open
- Rollovers from employer savings plans to Telcoe are available
- No minimum contribution requirement
- Earnings grow tax deferred 1
- Early withdrawals subject to IRS penalties
- Withdrawals on dividends can begin at age 59½
- Mandatory distributions begin at age 73
- Waive the $25 minimum deposit to open by setting up payroll deduction
1 Consult a tax advisor.
ROTH IRA
Let your contributions earn competitive dividends as long as you like — and avoid paying taxes on earnings at the time of withdrawals.1
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RETIRE IN STYLE
- Income limits to be eligible to open Roth IRA 1
- Invest "after tax" dollars and let them grow tax-free 1
- Contributions are 100% tax free at withdrawal 1
- You may withdraw your principal and earnings tax-free after 5 years 1
- Withdrawals on dividends can begin at age 59½
- Early withdrawals on dividends subject to IRS penalties 2
- No mandatory distribution age
- No age limit on making contributions as long as you have earned income
- If the account is below $1000 on December 31st, there will be a maintenance fee
1 Consult a tax advisor.
2 Certain exceptions apply,
such as healthcare, purchasing first home, etc.
SELF EMPLOYMENT IRA
Set funds aside whenever your business plan permits, earn competitive dividends, and claim tax deductions on your contributions.
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INVEST IN YOUR SUCCESS
- Earn competitive dividends on entire balance
- Contributions may be tax deductible 1
- Little to no documents to file with government
- Inexpensive to set up and operate
- If the account is below $1000 on December 31st, there will be a maintenance fee
- Flexible annual contributions
- Early withdrawals subject to IRS penalties 1
- $25 minimum deposit to open.
1 Consult a tax advisor.
IRA SHARE CERTIFICATES
Rest easy with guaranteed returns. Invest your IRA funds in a federally-insured share certificate — the longer your term, the higher your rate.
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GUARANTEED RETURNS
- Highly competitive rates to boost your balance
- Dividends compounded or paid monthly
- Rates vary based on term
- Provides greater guarantee than other, riskier investments
- A wide range of terms available (from 6 months to 5 years)
- Early share certificate withdrawals may result in penalties1
- Early withdrawal from IRA certificate may be subject to IRS penalties2
- Insured by the National Credit Union Administration (NCUA)
$1,000 minimum deposit to open
1 Consult a tax advisor.
2 Certain exceptions apply,
such as healthcare, purchasing first home, etc.