IRA Products

Traditional IRA: The main benefit of a traditional IRA is that your contributions may be tax-deductible provided you meet the eligibility requirements. Earnings and tax-deductible contributions are taxed as ordinary income only when they are withdrawn. Anyone earning income and under the age of 70˝ is allowed to invest. In addition to Traditional IRA Savings Accounts REALTORS® Federal Credit Union, A Division of Northwest Federal Credit Union offers Traditional IRA Certificates.

Roth IRA: Contributions to Roth IRA accounts are made using after-tax dollars. The benefit of this is that the funds you withdraw in retirement may be free from federal taxes. You will pay no taxes on earnings withdrawn after the age of 59˝ and after you've had the account for 5 years or more. In 2010, anyone with an adjusted gross income of $120,000 or less ($177,000 or less for joint tax filers) is eligible. In addition to Roth IRA Savings Accounts REALTORS® Federal Credit Union, A Division of Northwest Federal Credit Union offers Roth IRA Certificates.

SEP IRA: A Simplified Employee Pension (SEP) IRA is an employer-sponsored retirement plan which is offered to small business owners and their employees. Small business owners can make tax-deductible contributions to the plan. If you are looking for a low-cost and easily maintainable retirement plan for your employees, a SEP IRA is the way to go. You are eligible to contribute at any age if you are self-employed or a small business owner. In addition to SEP IRA Savings Accounts REALTORS® Federal Credit Union, A Division of Northwest Federal Credit Union offers SEP IRA Certificates.

Coverdell ESA: A Coverdell Education Savings Account (ESA) can be an effective part of a college savings plan.

For rates, click on the "Rates" tab from the Individual Retirement Accounts page.