Savings & Checking

IRAs

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The road to a financially secure retirement requires that you plan reasonably and responsibly so you can enjoy those years with peace of mind.

One of the best ways to start or supplement your retirement savings plan is with an IRA Account from EPFCU. We offer our IRAs as simple saving accounts, as well as certificates with terms from 6 to 60 months in both traditional and Roth formats.

Traditional IRAs

Traditional IRAs give you a reliable source of income when you retire and may give you a tax break now. You must start making withdrawals when you turn 70 1/2. You’ll have to pay taxes on your contributions and the interest they earned when you make your withdrawals.

Roth IRAs

Roth IRAs do not have deductible contributions, but you can avoid paying taxes on your earnings. You can make tax-free withdrawals starting at age 59 1/2 if it’s been 5 years since you opened the account, but you’re not required to make withdrawals at any age.

Coverdell Education Savings

Coverdell Education Savings accounts are classified as IRAs but are used for saving for the educational costs of children and grandchildren.
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