ValleyStone Credit Union® offers Traditional, Roth and Educational IRAs. All are intended as long-term savings accounts and offer tax savings advantages, which vary by type.

Two advantages of a traditional IRA are that you may be able to deduct some or all of your contributions to it, depending on your circumstances, and generally, amounts in your IRA, including earnings and gains, are not taxed until distributed.

Starting in 2002, the contribution limit increased to $3,000 ($3,500 if you were age 50+ by the end of 2002).

Regardless of your age, you may be able to establish and contribute to a Roth IRA. You cannot claim a deduction for any contributions to a Roth IRA, but, if you satisfy the requirements, all earnings are tax-free, and neither your nondeductible contributions nor any earnings on them are taxable when you withdraw them.

You can make a withdrawal from your IRA before you reach age 59½ and not have to pay the 10% additional tax if, for the year of the withdrawal, you pay qualified higher education expenses for yourself, your spouse, your children, your spouse's children, or grandchildren.

It is best to consult your tax advisor when deciding which retirement plan is right for you.

ValleyStone Credit Union®'s IRA investment is in our term share certificate. The minimum contribution is the same $500.00 as a regular CD. The only difference on the Roth & Educational versions is that the terms offered are on the even year, such as 12 months 24, 36, 48 & 60. We also offer an IRA share account which pays the same as a regular share. It is used to help people accumulate enough money to invest in the certificate with a $500.00 minimum. Our rates are competitive, so be sure to consider ValleyStone Credit Union® for your retirement planning.

Federally insured by NCUA