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Individual Retirement Accounts

Individual Retirement Accounts

Traditional Individual Retirement Account (IRA)

Save for retirement with a Traditional IRA deposit account. An IRA offers a great rate, no annual maintenance fee, and the benefit of tax-deferred earnings. The minimum balance to open an IRA account is $100.

Requirements:

  • $100 minimum opening balance on all new accounts*
  • Maximum annual deposit

*Rollover or transfer of an existing Traditional/Roth IRA with a balance waives $100 minimum opening balance.

Benefits:

  • No-risk savings “nest egg” for retirement with contributions and earnings tax-deferred
  • Funds transferrable to another IRA

Traditional IRA Certificate of Deposit

With a Traditional IRA Certificate, you’ll earn the same current yield as MOBILITY CU’s regular certificates of deposit, while enjoying the tax benefits of an IRA. For a low minimum balance of $500 and terms of 12, 24, 36, 48 and 60 months, you can choose a certificate to fit your needs.

Requirements:

  • $500 minimum opening balance

Benefits:

  • No-risk savings “nest egg” for retirement with contributions and earnings tax-deferred
  • Competitive rate of return on funds during term length
  • Funds transferrable to another IRA

Roth IRA

A Roth IRA offers benefits not available on traditional IRA products: withdrawals without a penalty or tax liability, no mandatory withdrawal requirements at age 70.5, and tax advantages for your heirs. In addition, you may be able to convert all or part of your Traditional IRA to a Roth IRA. Consult a tax advisor for additional information regarding eligibility for tax deductions, tax and penalty free withdrawals, and eligibility requirements for IRAs.

Requirements:

  • $500 minimum opening balance

Benefits:

  • No-risk savings “nest egg” for retirement with contributions and earnings tax-deferred
  • Different benefits than traditional IRA products
  • Competitive rate of return on funds during term length
  • Funds transferrable to another IRA

 

Individual Retirement Accounts

Questions about our products and services? Give us a call at 800-388-7889.