IRA

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IRA (INDIVIDUAL RETIREMENT ACCOUNT)

IRA or Individual Retirement Account, is a great way to start planning for the future.  The following three types of IRAs are offered at Superior CU, along with IRA Share Certificates.

Traditional IRA

• Defer taxes on earnings and tax-deductible contributions until withdrawn

• Contributions may be tax-deductible for the year they are made

• Make contributions up to the maximum limit or your earned income, whichever is less

Roth IRA

• Withdraw earnings tax-free if they remain in IRA for at least 5 years and you are 59 ½ or older

• Contributions can be withdrawn tax-free at anytime

• More attractive to some investors because of more flexible rules on early withdrawals

• Make contributions up to the maximum limit or your earned income, whichever is less

Coverdell (Educational) IRA

• Save up to $2,000 per child annually with these benefits.

• Withdraw funds and earnings tax and penalty-free if used for qualified education expenses.

• Include expenses such as tuition, fees, books, supplies, equipment, and in some cases room and board, and computers.

• Use for qualified elementary and high school expenses at most public, private and parochial schools.

IRA’s can either be open as share accounts or as CD’s.  To see the CD terms and rates click 

SEE OUR RATES.