IRA

IRA

Retirement planning is an essential step toward securing your financial future. At ABD Federal Credit Union, we are committed to helping you prepare for a comfortable retirement! 

We offer a range of Individual Retirement Accounts (IRAs), including Roth and Traditional options, designed to meet your needs and goals. Whether you're just starting your career or planning for the future, our expert team is here to help you choose the best plan for your stage of life. Take the first step toward a confident retirement today!

Contributions to this account from earned income can be tax-deferred, with annual limits of $6,000.00 or $7,000.00 for individuals aged 50 or older. These contributions may be excluded from a member's taxable income if all conditions outlined in the US Income Tax code are met.

Please visit the Credit Union to inquire about opening an IRA account.     

IRA Traditional Account

Contributing funds to a traditional IRA from your current year's earnings can help reduce your taxable income for the year. Plus, these contributions grow tax-deferred until you withdraw them during retirement, potentially maximizing your savings.

IRA Roth Account

Contributing to a Roth IRA with your current year's earnings is a smart, tax-efficient way to grow your savings. Although these contributions are not tax-deferred from your income this year, all future withdrawals, along with any interest earned, are completely tax-free, making it an attractive option for long-term wealth building.

Rates for Individual Retirement Accounts

Account Type	Minimum Deposit	Dividend Rate	APY†	Annual Maintenance Fee
IRA Traditional	$0.00	0.50%	0.50%	$15.00
IRA Roth Accounts*	$0.00	0.50%	0.50%	$15.00
* Penalty incurred for early withdrawal. † APY = Annual Percentage Yield. Dividends are decared quartetly and are posted on the last calendar day of each quarter. No dividend will be paid on an IRA account closed prior to the dividend posting date.