IRAs

Savings for the future. Tax credits now.

Individual Retirement Accounts (IRAs) are savings accounts specifically designed to provide additional income for education or retirement. Contributions to a Traditional IRA may reduce your taxes so make sure to check with your tax consultant. Explore the three different IRAs FCCU offers to find your fit.

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Traditional IRA

Contributions may be tax deductible and your earnings grow tax deferred allowing you to save quickly for retirement. Withdraws are permitted at age 59.5 with IRS tax penalties and are required at age 72.

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Roth IRA

The Roth IRA allows you to withdraw your earnings with no IRS penalties if the IRA has met the five- year waiting period and the distribution is qualified1. There is no requirement for withdrawals on this account. Simply let your money grow tax-free for as long as you like.

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man holding child

Coverdell Education IRA

Be prepared for college and beyond by investing up to $2,000 for each child under age 18. Though the contribution is not tax deductible, the benefit comes when you remove the money. If it is used for qualified education expenses - you pay no taxes on it.

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What type of Investment Accounts does FCCU offer?

What type of Investment Accounts does FCCU offer?

We offer a variety of accounts like CDs, Health Savings Accounts, IRAs and Money Managment accounts.  You can speak with one our Wealth Advisors to get set up with the right account for you.

How often do a I receive dividend payments with a Money Management Checking Account?

How often do a I receive dividend payments with a Money Management Checking Account?

Dividends are paid out on a monthly basis.

What is the minimum balance to open up a Certificate of Deposit Account?

What is the minimum balance to open up a Certificate of Deposit Account?

Most CD accounts will require a minimum opening balance of $500.

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