A Traditional IRA is a special tax deferred savings plan authorized by the Federal Government to encourage you to accumulate money for retirement. We offer Individual Retirement Accounts (IRA's) for your long-term, personal retirement savings, including Traditional, Roth and Education IRAs.
Dividends are compounded daily and paid quarterly to your retirement account. For example, the beginning date of the first dividend period of the calendar year is January 1 and the ending date of such dividend period is March 31. All other dividend periods follow this same pattern of dates.
The dividend declaration date is the last day of the dividend period, and, for the example above is March 31. If you close your account before the dividend is paid, you will not receive your accrued dividends. IRA’s are tax deferred until withdrawn. You may withdraw funds from your IRA at any time; however, early withdrawal penalties may apply.
A small annual maintenance fee is the only fee charged. All IRA’s are federally insured up to $250,000 by NCUA, separate from your other Share Accounts.