Retirement Savings Options - Individual Retirement Accounts with Proposed Odùduwà FCU
Individual Retirement Accounts (IRAs) are presented as accounts that can be used during any client’s retirement with various tax advantages. From a traditional to a Roth IRA, our clients can choose to hold on to any possible account for investments for the future. The benefits of our account include building options with IRA savings, Investment Services, or even Certificate accounts to develop your savings essentially.
Traditional IRAs
Traditional IRAs give potential tax-deferred plans for retirement that engage the clients to avoid any extra pay of taxes unless the clients withdraw any funds. Contributions to this account can be made for a long time until the client has an income for the investments or until he/she turns 70 and a half.
- Clients can now open accounts with us while funding IRAs without any employer participation in between.
- Clients’ earnings remain tax-deferred unless the amount of the investments is distributed.
- There can be a part played by deductible contributions if clients are eligible for the investment in such types of accounts
- There is no need of annual contribution for the account
Roth IRA
Roth IRA tax contributors are capable accounts to give tax-free withdrawal once the clients retire. It is not a tax-deductible system. Contributions to this account can be made for a long time until the client has an income for the investments even after 70 and a half years of age.
Features:
- Clients can now open accounts with us while funding Roth IRAs without any employer participation in between
- There is no minimum age bar to continue the contribution in Roth IRAs.
- Clients’ earnings remain tax-deferred unless the amount of the investments is distributed.
- Proposed Odùduwà FCU accounts under Roth IRAs enable the contributions to grow tax-deferred amounts.
- If the owners pay keen attention to the contribution guidelines, the principal amount is not necessary to be a subject of any future taxes or penalties, if any.
- There is no need for an annual contribution to the account.
Account Options
IRA Savings Account
Our services include IRA Savings Rate that is built for the clients to access their money. It is higher than the regular savings rate and is built for the members who need the money for them. It can be chosen from under the traditional or Roth options for the clients. Federally Insured by NCUA
Federally Insured by NCUA
IRA Certificates
Our IRA certificates are meant for a term ranging from 12-60 months under a predictable return on an investment scheme. The accounts for this scheme can be opened with a minimum of $500 with the best benefits of tax advantages for a Share Certificate. This can also be chosen from the traditional or Roth options for the clients.
Federally Insured by NCUA
Investment Services
Investment Services advisors give the best deals and offer for other non-deposit investment schemes. Other options can also be available to clients through our best investment services.
The NCUA does not insure it - There is no guarantee by the Credit Union - It may Lose Value in the Market - It also not ensured by any Government Agency.
IRA Rates
| Products | APY* |
|---|---|
| IRA Share | 0.50% |
| Products | 12 Months APY* | 24 Months APY* | 30 Months APY* |
|---|---|---|---|
|
IRA Certificate** (Minimum Balances of $500) |
0.60% | 0.70% | N/A |
| Products | 36 Months APY* | 48 Months APY* | 60 Months APY* |
|---|---|---|---|
|
IRA Certificate** (Minimum Balances of $500) |
0.80% | 0.85% | 1.00% |
Services & Resources
Service an Existing IRA
If a client already consists of an existing IRA and want services based on it, you can visiting our IRA Service Centre for more help.
Branches and Free ATMs
Our clients can now have access to more than 30,000 reachable ATMs for the nearest suitability for free.
Insurance Services
We cater to provide financial services to get a mix of quality for investment options like dealing with life insurance, home, auto, AD&D, or others according to your essential and immediate needs.
Seminars and Webinars
We provide events with free webinars and seminars for the clients to have information on retirement planning in advance and be prepared with thriving ideas and savings for all their future needs.
Products you might like
Money Market Accounts
Enjoy better access to your money if you have $2,000 or more to save for yourself during the term of your account.
Share Certificates
Enjoy better access to your money with the control of higher yield at a certain time.
Proposed Odùduwà Federal Credit Union is the stop for all your banking and financial needs. We provide you all types of financial services under one roof.
