Skip to content
  • APPLY NOW
    • Open an Account Online
    • Apply for a Loan
    • Skip a Payment
    • Refer-A-Friend
    • Direct Deposit
  • QUICKLINKS
    • Locations and Hours
    • ATM Locations
    • Shared Branching
    • Holiday Closures
    • Fees
    • Wire Transfers
    • Loan Payments Online
  • RATES
  • CONTACT
  • SEARCH
CPort LogoNOTag Retina2
  • PERSONAL
    • Checking Accounts
    • Savings Accounts
    • Loans and Lines of Credit
    • Home Loans
    • Visa® Debit Card
    • Credit Cards
  • BUSINESS
    • Business Accounts
    • Business Loans
    • Voyages
    • The Indus Fund
  • SERVICES
    • eBanking
    • Credit Score
    • Mobile Wallet
    • Branch Services
    • CUPhone
    • Insurance & Protection Products
  • RESOURCES
    • Loan Calculators
    • Savings Calculator
    • Credit Score
  • ABOUT
    • Blog
    • Newsletter
    • Annual Report
    • Community
    • Values
    • Careers
    • cPort News
    • Career Aspirations Program
    • Photo Calendar Contest

  • APPLY NOW
    • Open an Account Online
    • Apply for a Loan
    • Skip a Payment
    • Refer-A-Friend
    • Direct Deposit
  • QUICKLINKS
    • Location and Hours
    • ATM Locations
    • Shared Branching
    • Holiday Closures
    • Fees
    • Wire Transfers
    • Loan Payments Online
×
  • PERSONAL
    • Checking Accounts
    • Savings Accounts
    • Loans and Lines of Credit
    • Home Loans
    • Visa® Debit Card
    • Credit Cards
  • BUSINESS
    • Business Accounts
    • Business Loans
    • Voyages
    • The Indus Fund
  • SERVICES
    • eBanking
    • Credit Score
    • Mobile Wallet
    • Branch Services
    • CUPhone
    • Insurance & Protection Products
  • RESOURCES
    • Loan Calculators
    • Savings Calculator
    • Credit Score
  • ABOUT
    • Blog
    • Newsletter
    • Annual Report
    • Community
    • Values
    • Careers
    • cPort News
    • Career Aspirations Program
    • Photo Calendar Contest

  • APPLY NOW
    • Open an Account Online
    • Apply for a Loan
    • Skip a Payment
    • Refer-A-Friend
    • Direct Deposit
  • QUICKLINKS
    • Location and Hours
    • ATM Locations
    • Shared Branching
    • Holiday Closures
    • Fees
    • Wire Transfers
    • Loan Payments Online


Routing#:211288239

eBanking Login

Leverage The Tax-deferred Savings of an Individual Retirement Account

Individual Retirement Account

When it comes to retirement, many individuals are unaware of the benefits of saving for retirement outside of the typical 401K account.

An Individual Retirement Account (IRA) is a different approach to saving for retirement. Individuals can choose to contribute to a Traditional IRA or a Roth IRA, or even both. Opening an IRA can lead you on a successful path for retirement.

There are two primary types of IRAs, a Traditional IRA and a Roth IRA. Funds contributed to a Traditional IRA are not taxed until they are distributed in retirement. Contributions made to a Traditional IRA can be fully or partly deductible, which can lower your taxable income. Once in retirement, many retirees find themselves in a lower tax bracket than what they were pre-retirement. The tax deferral may allow for the funds to be taxed at a lower rate than what it would have been taxed pre-retirement.

A Traditional IRA can yield an upfront tax break, whereas a Roth IRA will yield a tax break when you are ready to retire. A Roth IRA has the benefit of providing tax-free distributions when you retire. This type of account has no minimum distribution, provides tax-free withdrawals, and you can withdraw at any point in your retirement. Roth IRAs are capped at $6,000 (or $7,000 if you are age 50 or older).

IRAs are easy to open at cPort Credit Union! To open and make contributions to an IRA, you (or your spouse) need to make a taxable income. Once you have determined if you are eligible, you can open an IRA by visiting any one of five cPort branches and speaking with a Member Service Representative. You can manage your funds on your own or work with us to help determine your best option. Many choose an automated approach where the funds are automatically observed and balanced to meet your goals.

cPort can help you meet your retirement goals through the tax-deferred savings of Individual Retirement Accounts. 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.

Posted in Individual Retirement Account, Tax

Blog Posts

  • Panelists from the Institute for Family BusinessesInstitute for Family-Owned Business
  • Boys and Girls Clubs of Southern MaineBoys & Girls Clubs of Southern Maine
  • RAA LOGO MCRead Across America
  • certificatesWhich high-yield CD is right for you?
  • Job Scams FBAvoid Job Scams in 2023!

Contact Us

Toll Free: 1-800-464-0253
CUPhone: 1-888-306-0033
Debit PIN Change: 1-800-757-9848
Routing Number: 211288239
Email Us

eBanking Login

eBanking Resources

Credit Card Login

Rates & Fees

Savings Rates
Loan Rates
Fees

Loans

Auto Loans
Credit Card Services
Home Loans
Personal Loans

Accounts

Checking Accounts
Savings Accounts
Business Accounts

Search for specific products, services, articles, topics, etc.


CPORT ROUTING NUMBER: 211288239

About cPort

Disclosures and Agreements
Social Media Policy
Terms and Conditions

Contact Us

Toll Free: 1-800-464-0253
CUPhone: 1-888-306-0033
Debit PIN Change: 1-800-757-9848

Routing #: 211288239

App Store
Google Play

© 2023 cPort Credit Union
Equal Opportunity Lender. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.

ENGLISH Insurance Label
Equalhousinglender

CONTACT

LOCATIONS

RATES