Rio Grande Credit Union
Rio Grande Credit Union ESPAÑOL
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Securing your future starts today.

IRA accounts are your tax-friendly ways to save for retirement.

We know that saving for retirement is a big deal. That’s why RGCU offers different Individual Retirement Account (IRA) options, each with competitive rates. There is no minimum balance to open an RGCU IRA. Plus, start earning dividends with a balance of $25. Contributing to an IRA may help reduce your taxes. We recommend consulting your tax advisor to maximize your tax benefits. Here are some options.

Traditional IRA 

A Traditional IRA can be transferred from another institution. Age matters with a Traditional IRA – contributions can be made into the account up to age 70½ under the IRA contribution guidelines. Funds may be drawn beginning at age 59½ and withdrawals must begin by age 70½. Early withdrawals are subject to IRS penalty. Earnings may be withdrawn tax-free for a qualified reason. For a list of qualified tax exemptions, ask your tax advisor.

Roth IRA 

If traditional isn’t your style, then consider a Roth IRA . A Roth IRA can be transferred from another institution. There is no age limit for contributions as long as you have earned income. Earnings can be withdrawn tax-free after five years with a qualified reason. For a list of qualified tax exemptions, ask your tax advisor.

IRA Share Certificate

An IRA Share Certificate is similar to a share certificate with the following exceptions: early withdrawal is subject to IRS penalty and after age 70 ½, you may make one penalty free withdrawal during each 12 consecutive month period, if the term is greater than or equal to one year.

Credit union terminology: share refers to savings and dividends refer to interest paid on deposits.

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