Sidney Federal Credit Union

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To prepare for a comfortable retirement, your most important goal is to save as much as you can as early as you can. The longer your money is invested, the more it will grow. sfcu offers Individual Retirement Accounts (IRA’s) to help you take that first step towards retirement.

Traditional IRA

  • Anyone under the age of 70 ½ with qualified income can contribute
  • Earnings grow tax-deferred until withdrawn
  • Contributions may be tax-deductible

Roth IRA

  • Anyone with qualified income can contribute, regardless of age
  • Earnings are tax-deferred and withdrawals are tax free if account is open for at least five tax years
  • Regular contributions can be withdrawn tax free and penalty free at any time

Coverdell Education Savings Accounts (ESA)

  • Individuals of any age may contribute for a beneficiary child or grandchild under age 18
  • Funds must be withdrawn by the time the child beneficiary reaches 30
  • All withdrawals, including earnings are tax free when used for qualified education expenses