IRAs

It’s never too soon to start planning for retirement, and an Investment Retirement Account (IRA) lets you invest the maximum amount federal law allows. St. Louis Community Credit Union offers great rates on both traditional IRAs and Roth IRAs to keep your savings safe and growing for the day you need them, no matter how much or how little you deposit.

Traditional IRAs provide:

  • Tax-deferred interest until funds are withdrawn (as early as age 59 1/2)
  • Tax deductible contributions, depending on income level
  • A possible deduction from annual gross income on your federal income tax return (consult your tax adviser for details about deductibility)

Roth IRAs provide:

  • Contributions at any age
  • Qualified, tax-free distributions
  • Flexible withdrawal options

Investing in a different aspect of the future? Coverdell Educational Savings Accounts (ESAs) allows tax-free savings and distributions for educational expenses (including qualified elementary and secondary expenses).

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