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Individual Retirement Accounts (IRAs)

Individual Retirement Accounts (IRAs)

Save for your retirement with an individual retirement accumulation account or IRA CD from Arsenal. If you are younger than age 70½ 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 70½).
  • For the 2017 tax year, the maximum contribution is $5,500. For those age 50 or older, the maximum contribution is $6,500.
  • 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 59½.

Arsenal Credit Union offers traditional IRAs. For other types of IRAs, contact Arsenal Financial Advisors.

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

Truth-in-Savings Disclosure

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