Plan For Tomorrow, Today
The saying "time flies" is an understatement. For that very reason, it is of the utmost importance to prepare for retirement as early as possible and set up an Individual Retirement Account (IRA) today. We offer competitive rates and the security you deserve.
In the past few years, tax law revisions have made it easier to save for retirement and education by allowing individuals to contribute more to their IRAs. If you're tired of watching your net worth go down instead of up, why not shelter some of your hard-earned money here at PA Central Credit Union? Our IRAs provide steady, risk-free growth with competitive rates and NCUA insurance from the National Credit Union Administration (NCUA).
- Traditional IRAs: These IRA plans are the original, but their annual contribution limits have increased to $5,000 or $6,000, depending on age. Plus, generally, amounts in your IRA, including earnings, are not taxed until they are distributed.
- Roth IRAs: Contribution amounts for a Roth IRA are the same as the Traditional variety, but an important difference is that your earnings grow tax-free if certain qualifications are met. Your contributions are non-deductible, but a tax-free withdrawal of earnings at retirement is an amazing benefit.
- Coverdell Education IRAs: Save money for your child's education on a tax-favored basis with a Coverdell Education IRA. These IRAs now have increased contribution limits of $2,000. Tax on earnings is deferred until the funds are withdrawn, and if used for qualified education purposes, the entire withdrawal can be tax-free.
Make An Appointment For Your Future!
Stop by a branch or call (717) 564-4661 to get started.