It’s never too early or too late to start saving for retirement. Lassen County Federal Credit Union offers a variety of Individual Retirement Account (IRA) options to make your retirement more secure and enjoyable.
As millions of Americans have already discovered, IRAs are one of the best savings tools available today. More people than ever before are now eligible to take advantage of the incredible tax advantages available through IRAs.
Lassen County Federal Credit Union offers both IRA Savings and IRA Certificates for two types of Individual Retirement Accounts - Traditional and Roth.
Traditional IRA
Earnings within Traditional IRAs are generally not taxed until they are distributed and contributions are tax-deductible for many taxpayers.
This IRA offers tax-deferred earnings and the possibility for tax-deductible contributions until distributions begin at retirement age. These tax advantages make the traditional IRA a powerful tool in creating a balanced, long-term savings plan.
Roth IRA
Earnings on Roth IRAs are generally not subject to federal taxes. Over time these special tax features can result in significantly larger IRA savings accumulations than can be earned with ordinary savings tools.
These contributions are not tax-deductible. However, the money in a Roth IRA, including earnings, is not taxed when you begin withdrawing funds at retirement.
IRA Savings
- You may transfer an IRA from another financial institution
- IRA Savings are insured separately from your other deposits
- NCUA insures up to $250,000 for Traditional and Roth
IRA Certificates
- Traditional and Roth Term Certificates available
- Functions like a certificate – choose your term, earn consistent dividends, and reinvest for maximum earnings.
- Minimum opening deposit of $1,000.
- NCUA insures up to $250,000 for Traditional and Roth
Ask your tax advisor for details and speak with our accounts representative to open the IRA that best fits your needs.
Contact us at (530) 257-7736 for more information and assistance evaluating your options.