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Traditional IRAs

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.


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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.