Saving for Retirement is an important tool in planning for your future. Your IRA shares are insured by the NCUA (National Credit Union Association) for up to $250,000. Dutch Point offers several Individual Retirement Account options.
Traditional IRA
- For anyone under age 70 ½ who earns
compensation (or who is filing jointly with a spouse who earns compensation)
- Many people can deduct contributions on their tax returns
- All earnings are tax-deferred
- Taxable distributions of earnings are penalty-free for a fist-time home purchase, certain higher education expenses and large medical costs
Roth IRA
- For anyone who earns compensation (or who is filing jointly with a spouse who earns compensation) with the following modified adjusted gross income:
1. Up to $95,000 (single filers)
2. Up to $150,000 (joint filers)
- Contributions are non-deductible, but qualified distributions are tax-free
- Taxable distributions of earnings are penalty-free for a first-time home purchase, certain higher education expenses and large medical costs
IRA Share Account
- Minimum Deposit of $25
- Tax Deferrable Dividends
IRA Certificates
- Terms from 3 to 60 Months
- Minimum Deposit of $500
- Automatic Renewal
IRA Loans
- Elect to borrow for current or prior year IRA
- Up to 1 year to repay
Coverdell Education Savings Account (ESA)
- Education IRA
- Never tax-deductible
