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IRA Information

IRA POST 70 1/2 PERIODIC PAYMENT OPTIONS:  Withholding Notice: Payments from your IRA are subject to federal income tax withholding, unless you elect no withholding.  You may change your withholding election at any time prior to your receipt of a payment.  To change your withholding election, complete the appropriate form provided by your credit union.  Withholding from IRA payments, when combined with other withholding, MAY relieve you from payment of estimated income taxes.  However, your withholding election does not affect the amount of income tax you pay.  You may incur penalties under the estimated tax rules if your withholding and estimated tax payments are insufficient.


Qualified taxpayers may make contributions of a maximum of $6,000; however if you are over 50 years old you may qualify to contribute an extra $1,000.  Stop by the office to start your retirement account.

Roth IRA Share accounts and Coverdell ESA (educational savings) Share accounts are available.  Contact your financial advisor to see if these accounts would be a benefit to you or your family.

For all IRA Share accounts, the Fair Market Value is furnished to the IRS.