IRAs

Create a more secure future by making the maximum allowable contribution to an IRA certificate or savings account each year. Your savings are federally insured to $100,000 by the National Credit Union Administration, a U.S. government agency. The NCUA insures retirement accounts to $250,000. Additional coverage for IRAs from $250,000 to $500,000 is provided by American Share Insurance, a private insurer.

All three IRAs are available as a certificate ($1,000 minimum opening deposit) or savings account ($50 minimum opening deposit)*.

Traditional IRA

• Annual contributions up to $4,000, plus a $500 catch-up contribution if over the age of 50
• Depending on your income, your contributions may be tax deductible. Ask your tax advisor about your individual situation
• Withdrawals at retirement will be taxed at your then-current rate, when you will probably be in a lower tax bracket
• Your spouse may open and contribute to his/her own IRA

Roth IRA

• Annual contributions up to $5,000, plus a $1,000 catch-up contribution if over age 50
• Contributions are not deductible, but withdrawals at retirement are tax-free
• Earnings are tax-free if account is open for five tax years

Coverdell IRA Education Savings Account

• May be opened by any adult in the name of any child
  up to age 18
• Annual contributions of up to $2000 per child permitted;
  not deductible
• Withdrawals for qualified education expenses are tax- and penalty-free

Automatic deposits

• Direct Deposit can be distributed among savings,
  checking, etc.
• Money Mover makes regular transfers from your accounts at other financial institutions to American First
• Withdrawals for qualified education expenses are tax- and penalty-free