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.