Individual Retirement Accounts
Saving for Retirement
cPort can help you meet your retirement goals through the tax-deferred savings of Individual Retirement Accounts (IRAs). Even with tax law changes, your IRA contributions may be fully or partially deductible, depending on your personal financial situation. Consult your tax adviser to determine if you qualify.
Our IRA options offer several ways for your retirement funds to grow on a tax-deferred basis, and they're all insured up to $250,000 by the National Credit Union Administration (NCUA).
Traditional IRA
This retirement option enables qualifying individuals to deposit earned income each year. For 2022, you can deposit up to $6,000 ($7,000 if you are over 50). Spouses may contribute like amounts.
- Qualify for potential tax deductions now
- Open your IRA with as little as $100
- Dividends earned on an average daily balance of $100 or more
- Build your nest egg effortlessly with payroll deduction
Roth IRA
This retirement option is funded with funds that have already been taxed, so they can be withdrawn tax free if you meet the eligibility requirements. For 2022, you can deposit up to $6,000 ($7,000 if you are over 50). Spouses may contribute like amounts.
- Fund your Roth IRA with after tax money, enabling tax free withdrawals later on
- No age caps on contributions or required distributions at age 70 ½
- Open your IRA with as little as $100
- Build your nest egg effortlessly with payroll deduction
IRA Certificate
Build your retirement savings faster with our high-yielding IRA share certificate.
- Enjoy competitive rates
- $500 minimum to open
- Terms from 3 months to 5 years
Contact us today to see how easy it is to start saving for your retirement. Call 1-800-464-0253, email [email protected], or stop into one of our branches for more information.