Invest in your future with an IRA from Financial Plus
Individual retirement savings accounts (IRAs) allow you to cover your retirement or educational needs in the form of savings accounts and share certificates. By choosing an IRA with Financial Plus Credit Union, you're not just investing in your future—you're gaining access to resources designed to help you achieve your retirement goals with ease.
What you get with an Individual Retirement Account (IRA) :
Educational Savings Account (ESA)
Designed to help families pay for education related expenses with tax-free withdrawals.
Explore our educational library for resources to help you with your finances.
What is a Traditional IRA?
A Traditional IRA certificate is used for money that has not yet been taxed (pre-tax dollars). Your pre-tax dollars grow and compound without being taxed until the day that you withdraw them. You may begin withdrawing the funds at age 59 ½ and will be required to begin making annual withdrawals, sometimes called “required minimum distributions” the year in which you turn 70 ½. Most of our regular CD rates and terms apply to traditional IRAs as well.
What is a Roth IRA?
An individual retirement account allowing a person to set aside after-tax income up to a specified amount each year. Earnings on the account and withdrawals after age 59 1/2 are tax-free. Consult a tax professional for additional restrictions which may apply.
What is an Educational Savings Account (ESA)?
Also known as "Coverdell IRAs." A Coverdell ESA account is a trust or custodial account designed to help families pay for education and education related expenses. Coverdell ESA offers tax-free earnings growth and tax-free withdrawals when the funds are spent on qualified expenses.
These accounts come in various forms including savings and CDs. Ask us how an ESA might be right for your family.