Save for your retirement with an individual retirement accumulation account or IRA CD from Arsenal. If you are younger than age 70˝ with earned income, you can open an IRA even if you have an employer-sponsored retirement plan. With our traditional IRAs:

• Your savings are federally insured by the National Credit Union Administration (NCUA), a U.S. Government agency.
• No minimum contribution is required.
• You can make your contributions at any time (before age 70˝).
• For the 2009 tax year, contribute up to $5,000 if you are less than 50 years of age by the end of 2009; contribute $6,000 if you are age 50 or older before 2010.
• There are no service fees.
• You may transfer or rollover funds from other retirement plans.
• There is a no minimum balance requirement to earn interest for the IRA accumulation account.
• There is a $500 minimum requirement to open an IRA CD (the same as our other CDs).
• There may be penalties for withdrawing before age 59˝.

Arsenal Credit Union offers traditional IRAs. For other types of IRAs, contact the MEMBERS Financial Services Representative serving the members of Arsenal Credit Union.

Determine whether a traditional or Roth IRA is right for you with our IRA calculator.

Helpful resources

• IRA account rules – An overview of IRA account rules, including the importance of designating beneficiaries and the no-borrowing rules
• IRAs: The truth – IRA contribution rules
• IRAs: Age 70˝ required minimum distributions – An overview of the rules that require you to begin withdrawing at least minimum amounts from your traditional IRA each year after age 70˝
• IRAs: Required distributions for heirs – Summary of the required minimum distribution rules for beneficiaries who inherit traditional IRAs
• IRAs: Traditional IRAs, nondeductible – The eligibility and tax rules for making nondeductible contributions to a traditional IRA
• IRAs: Traditional or roth - which one? – Comparison of roth IRA and traditional IRA
• IRAs: Is the roth IRA the right plan for you? – Explanation of roth IRA tax advantages
• IRAs: Roth IRAs for young people– Teens and young adults can invest in a roth IRA to get an early start on saving for retirement, a first home, or college
• IRAs: Roth IRA as an estate-planning tool – Using a roth IRA for estate planning
• IRAs: Roth IRA early withdrawal rules – Comprehensive information about withdrawing money from a roth IRA, including the early withdrawal rules
• IRAs: Sorting out your options – Here are some general guidelines if you’re eligible to contribute to a roth IRA and also to make tax-deductible contributions to a traditional IRA
• IRAs: Sorting out your options, part 2 – If you’re not eligible to make tax-deductible contributions to a traditional IRA but you’re eligible to contribute to a roth IRA, here’s why contributing to a Roth IRA is the way to go.
• IRAs: Sorting out your options, part 3 – If you don't qualify to contribute to a roth IRA or to make tax-deductible contributions to a traditional IRA, nondeductible contributions to a traditional IRA are your only IRA option.
• IRAs: The long and short of goal setting – Setting long-term and short-term goals for IRA investing