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We offer three different types of Individual Retirement Account options:

Traditional IRA
An individual retirement savings plan that offers tax-deferred earnings and the possibility of tax-deductible contributions.  These tax advantages make the Traditional IRA a powerful tool in creating a balanced, long-term savings plan.

Roth IRA
An individual retirement account that offers different tax incentives than a Traditional IRA to boost your retirement savings.  Unlike a Traditional IRA, contributions to a Roth IRA are never tax-deductible, but the initial deposits to your Roth IRA can be withdrawn at any time.  However, for tax-free dividends, you may not withdraw funds until you are 59 ½ years of age and have had the account for five years.  You pay taxes on your contributions now.

Educational IRA
An individual retirement account offered specifically to help pay for your child's educational expenses, such as:  tuition, fees, books, supplies, equipment, and in some cases, room and board, and computers.  The Educational IRA is not tax-deductible; however, it offers the potential for tax-free withdrawals including earnings.

Please consult your tax advisor for items pertaining to tax deductibility.

To learn more about ECU IRAs, call (800) 999.2328 to speak with a Member Service Representative.

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