RESCU IRAs

RESCU offers an IRA Savings (Share) Account and IRA Certificates, for both Traditional and Roth IRAs. Call your RESCU representative for more information!

What is an IRA?
An IRA is an Individual Retirement Account. This type of account allows an individual to save for retirement, typically on a tax-deferred basis. There are two main types of IRAs:

• Traditional IRA: You contribute to this type of account with money that you may be able to deduct on your tax return. Earnings can potentially grow tax-deferred until you withdraw them in retirement. At retirement, many individuals go into in a lower tax bracket, so the tax-deferral means the money may be taxed at a lower rate.

• Roth IRA: You contribute with money that you’ve already paid taxes on (after-tax); however, your money may potentially grow tax-free, with tax-free withdrawals in retirement, if certain conditions are met.

Opening an IRA account at RESCU is very easy, and allows for immediate access to your IRA funds. RESCU IRAs are very safe, and are backed by high-quality-low-risk investments that are approved by credit union regulations, and are also insured by the NCUA by at least $250,000.

Whether you choose a Traditional or Roth IRA, the tax benefits allow your IRA savings to potentially grow, or compound, more quickly than in a non-IRA taxable account. 

USA PATRIOT ACT NOTICE

IMPORTANT INFORMATION ABOUT OPENING AN ACCOUNT On September 11, 2001, our lives changed forever. In an effort to protect you and our country, the USA PATRIOT Act was signed into law. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may ask to see your driver’s license or other identifying documents. We proudly support all efforts to protect and maintain the security of our customers and our country.