IRA

IRA

Retirement is something to look forward to, not worry about. At ABD Federal Credit Union we will help you plan for your retirement and look forward to the days to come. Individual Retirement Accounts (IRAs) are available to all members. We offer both Roth and Traditional IRA to give you freedom and flexibility. The one you choose may depend on your stage in life and your anticipated goals. Talks to one of our representatives today for more information and to determine which plan is best for you.

Contributions to this account from earned income, up to an annual maximum of $6,000.00 or $7,000.00 if you're age 50 or older, may be deferred from a member's taxable income if all conditions specified in the US Income Tax code are met.

Please inquire at the Credit Union about applying for an IRA account.    

IRA Traditional Account

Funds contributed to a traditional IRA from Current Year Earnings may often be deferred from Current Year Adjusted Growth Income. These deferred contributions would be taxable when the funds are distributed.

IRA Roth Account

Funds contributed to a Roth IRA from Current Year Earnings may not be deferred from Current Year Adjusted Gross Income. However, all future Distributions, including Interest Earned, would never be taxable.

Rates for Individual Retirement Accounts

Account Type	Minimum Deposit	Dividend Rate	APY†	Annual Maintenance Fee
IRA Traditional	$0.00	0.50%	0.50%	$15.00
IRA Roth Accounts*	$0.00	0.50%	0.50%	$15.00
* Penalty incurred for early withdrawal. † APY = Annual Percentage Yield. Dividends are decared quartetly and are posted on the last calendar day of each quarter. No dividend will be paid on an IRA account closed prior to the dividend posting date.