Traditional IRA
- Contributions to a traditional IRA may be tax deductible*
- Maximum contribution of $6,000 per year**
- Contribution limits increase to $7,000 at 50 years of age
Roth IRA
- A retirement planning option funded solely by after-tax contributions
- Offers the possibility of tax-free withdrawal of earnings at retirement
- Maximum contribution of $6,000 per year*
- Contribution limits increase to $7,000 at 50 years of age
Education IRA
- Requires a specified beneficiary, a child under the age of 18
- The funds will be used to pay post-secondary education expenses for said beneficiary
- Maximum contribution limit of $2,000 per child, per year*
- *$6,000 limit to contributions made to the aggregate of Roth and Traditional do not include the $2,000 Education max
Oklahoma Community Credit Union offers investment options to help you build a nest egg or save for retirement. We can help you determine the best savings solution for your needs. Individual Retirement Accounts (IRAs) offer you:
- Flexible terms
- Competitive dividend rates
- Federal deposit insurance through the NCUA
- Monthly dividends on IRA certificates
- Quarterly dividends on IRA savings accounts
- $250 to open an IRA savings
- $1,000 minimum to open an IRA certificate
Call Member Services 405.743.3328 to get started on opening your IRA today.
*tax benefits and deductibility should be discussed with your tax advisor.
A maximum contribution of $6,000 per year is for the aggregate of a Traditional and Roth IRA.
Income level may impose restrictions on the Education IRA maximum contribution