Individual Retirement Accounts (IRAs)

IRA Accounts

IRAs are insured by the NCUA for up to $250,000, separately from other accounts that the member maintains in the same credit union. Unlike most banks, CVFCU charges no maintenance fees for IRAs. Call us today for more information.

Traditional IRA | Save for your future.

A traditional IRA is a way to save for retirement that gives you tax advantages!
  • Save money up to age 70 1/2 to supplement income after retirement
  • Taxed when withdrawn, typically at a lower rate than during employment years
  • Early withdrawals are allowed for first-time home purchases or educational expenses

Roth IRA | Your pre-taxed investment option

The Roth IRA offers more incentives to boost your retirement savings and provides more ways to use your nest egg.
  • Pre-taxed, which means deposits can be withdrawn at any time
  • Earnings can be withdrawn tax free and penalty free if the account has been open for 5 years and one of the following reasons apply: the owner is age 59 1/2, disabled, deceased or the funds are for a first-time home purchase

Education IRA | Your opportunity to save for their future

Coverdell Education Savings Account: An opportunity for parents and grandparents to save for their children’s or grandchildren’s education.
  • Contributions can be made until the child reaches age 18
  • Money can be transferred from one child to another in the same family
  • Money withdrawn must be used for education expenses for the designated child before age 30. Exceptions may apply.