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GREAT TAX ADVANTAGES
- Earnings are tax-free if account is open for 5 tax years and withdrawn for a qualified reason. (age 59½ , disability, death or a first-time home purchase**)
- Regular contributions may be withdrawn at any time, tax-free and penalty-free.
- Withdrawals not required to start at age 70½.
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$500 MIN. CERTIFICATE TERMS AVAILABLE
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12 MONTH
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30 MONTH
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Contribute* up to $5,000. Members 50 and older, limits increase to $6,000.
*Note: contributions cannot exceed compensation.
Best of all, if you aren't able to deposit a lump sum but still want the benefits of an IRA, we offer a Roth IRA Share Account. This account can be opened with a minimum of just $5.00 and small increments can be deposited into the account whenever possible. Payroll deduction is especially helpful for those who want the benefits of saving for retirement a little at a time.
Stop in or call our IRA expert Tami O'Brien at ext. 222 or email her at tobrien@ircocu.com. She will be glad to help you with any questions you may have on either our Traditional or Roth IRA products.
**Lifetime limit for exemption on first-time home purchase is $10,000.
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