IRAs and IRA CDs are account options available to everyone but can be especially valuable to members who do not have access to a company 401(k) or other work-related retirement program. If you have changed employers, you can move your 401(k) funds by direct rollover into an InTouch IRA or IRA CD account.
If you have funds at multiple financial institutions you may consider consolidating funds in an ITCU Jumbo IRA CD. You'll get the very best rates for deposits of $95,000 or more. The same rates and terms apply to IRA CD accounts.
Not only does your IRA at InTouch Credit Union feature potential federal income tax deferral* on interest earned, but your IRA is also insured up to $250,000, independent of your other Credit Union accounts by the National Credit Union Administration (NCUA). So, you may confidently contribute to your ITCU IRA or IRA CD every year. And there is an additional reward for those over 50 years, who can take advantage of a larger annual contribution amount.
Open an ITCU IRA or IRA CD and know that your financial blueprint is being built to your specifications.
Call the Contact Center at 800-337-3328 for more details.
The annual contribution limit varies from year to year. Your Roth IRA contributions may also be limited based on your filing status and income. Please see the IRS page regarding IRA Contribution Limits for up to date information.
No, this account is considered a Traditional IRA. A Traditional IRA allows your savings to grow tax-deferred, meaning you pay no taxes on earnings until they're withdrawn. Typically, you can't withdraw from a traditional IRA without paying income tax plus a 10% federal penalty tax until you reach age 59½. You must begin withdrawing money by the year after you turn 70½.*
*Contact your tax advisor for advice on whether an IRA is a good option for your situation, and whether you qualify to defer federal income tax.