IRAs

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IRAs

Individual Retirement Accounts

No matter what stage of life you are in, a Cornerstone Credit Union Individual Retirement Account (IRA) can help with your financial planning.

  • If you're just beginning your career, start building your retirement plan with a CCU IRA.
  • If you're already retired, or nearing that date, you should consider a safe, secure CCU IRA.

Call or stop by today--and get started with a Traditional IRA or Roth IRA. Depending upon the type of IRA you invest in, your investment can be used for:

  • A first-time home purchase
  • Qualified college education expenses.
Here is a chart outlining 2017 IRA Contribution Limits.
Traditional IRAs

A Tax-Advantaged Way to Save

The traditional Individual Retirement Account (IRA) is an account that allows qualified tax-deductible contributions and also allows contributions and earnings to grow tax deferred.1 You don't pay taxes on your contributions or earnings until you take them out.
  • Must be younger than 70½ to open
  • $5,000 contribution limit per year, $6,000 if you are age 50 or older
  • Withdrawals can begin at age 59½
  • Mandatory withdrawals at age 70½
  • Early withdrawals subject to penalty2

At Cornerstone Credit Union: No setup or annual maintenance fees. Choose between an IRA Savings or IRA Certificate of Deposit.

Call or stop in today — and get started with your Cornerstone Credit Union IRA!

1 Subject to some minimal conditions. Consult with your tax advisor.

2 Certain exceptions apply, such as healthcare, purchasing first home, etc.


Rates
Roth IRAs

A Roth IRA differs from a Traditional IRA: Contributors gain a tax benefit in retirement; a traditional IRA gives you most of your tax benefit when you contribute. Another difference is you can continue to fund your Roth IRA after you reach age 70½ and you can leave amounts in your Roth IRA as long as you live.

You can open a Roth IRA at any time if you have taxable compensation and your modified adjusted gross income falls within IRS guidelines. Contact us for details.

  • Earnings and principal are 100% tax free upon withdrawal
  • Contributions are not tax deductible
  • $5,000 contribution limit per year, $6,000 if you are age 50 or older
  • No mandatory distribution age
  • Principal contributions can be withdrawn without penalty1
  • Early withdrawals on interest subject to penalty2

At Cornerstone Credit Union, no setup or annual maintenance fees. Choose between an IRA Savings or IRA Certificate of Deposit.

Call or stop in today — and get started with your Cornerstone Credit Union IRA!

1 Subject to some minimal conditions. Consult with your tax advisor.


Rates
Cornerstone Credit Union
1-800-711-3277  •  Routing: 271184425  •  NMLS #743907
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Your deposits are federally insured up to $250,000 by the National Credit Union Administration (NCUA), with an added safety net of private insurance (Excess Share Insurance/ESI) for an additional $250,000. This is the highest combination of federal and private insurance available to consumers.