IRAs










 

 

Individual Retirement Accounts: It’s never too soon to think about retirement, and a South Carolina National Guard FCU IRA is one of the easiest ways to save for your retirement years. We offer a wide range of IRA investment types and we pay competitive dividends on each.  For as little as $25.00, you can open your own IRA Flex (savings) account. Or, with a minimum investment of $1,000.00, you can enjoy the benefits of an IRA Certificate.  Let the South Carolina National Guard FCU help your retirement dreams come true.

 

Traditional IRA: A Traditional IRA is a special savings plan authorized by the Federal government  designed to help you accumulate funds for your retirement. A Traditional IRA allows you to defer taxes on your earnings until they are withdrawn.  Also, certain contributions may be tax deductible in the year they are made.


Roth IRA: A Roth IRA is a special savings plan authorized by the Federal government designed to help you accumulate funds for your retirement. Contributions to a Roth IRA are non-deductible, but all withdrawals, including earnings are tax-free provided the account has been open for five years and the IRA owner is 59 ½ or older. Unlike a Traditional IRA, owners are not required to take distributions once they reach 70 ½.


Coverdell Education Savings Account: The CESA is an IRA account that features tax-free withdrawals for a child's higher education expenses. Unlike the Traditional IRA, contributions are nondeductible. Therefore distributions from a CESA could be penalty free and tax-free.  Consult your tax advisor for further information.

 

IRA Certificates: Earn higher dividends with an IRA Certificate. IRA Certificates are available with a minimum deposit of $1,000.00 in terms ranging from 6 months to 36 months.  IRA Certificates are subject to Federal IRA regulations.

 

 

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