Individual Retirement Accounts
Invest in a comfortable retirement
An IRA (Individual Retirement Account) is a special type of savings plan that helps you save for retirement. IRA’s are a secure way to save for the future, require little administration, and are easy to set up.
Traditional IRA accounts are a special type of investment that allows your earnings to grow tax-deferred. You can invest up to $6,000 per year in a Traditional IRA account (or up to $7,000 if you are 50 or older).
Consider If: You would like to reduce your taxable income now, and you don’t plan on making withdrawals until retirement.
Tax Advantages: You may be able to reduce your current income taxes now. You don’t pay taxes until you take money out, typically when you are in a lower tax bracket.
Withdrawals: Withdrawals are taxable income. Withdrawals made before age 59 1/2 could include a 10% penalty.
Mandatory Withdrawals: At age 70 1/2
Open an IRA today!
* Log in to Online Banking
* In the New Accounts tab, select More Share Info
* Select the account you’d like to open
ATL Federal Credit Union is a financial service institution serving the needs of those who live, work, worship or attend school in Kent County.
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A member service representative is available and happy to help you if needed. Give us a call or stop in and see us today!