1.844.825.6728  |  support@valorcu.org  |  Routing # 231386331

IRA Share Savings
(Traditional & Roth)

Tax advantaged retirement savings options

Rates

Dollar Amount Rate (APY*)
$0.01+ 0.15%

About

Individual Retirement Accounts (IRA's) are a great way to diversify your portfolio and save for retirement. They provide supplemental income to complement a 401(k) or pension plan, and Social Security payments. There are two types of IRA accounts to choose from: Traditional and Roth. See below to the description of each in order to determine which one may be the right choice for your situation.

Traditional IRA

A Traditional IRA allows for tax-deductible contributions and earns tax deferred dividends. There aren't any income requirements to open a Traditional IRA, but there is an annual contribution limit. Penalties are also charged for the withdrawal of funds before the age of 59½ with a few specific exceptions. At the time of withdrawal funds are taxed as ordinary income at the then current tax bracket.

Additionally, a Valor Traditional IRA is designated as a Qualified Retirement Plan, which means you can transfer your pension or 401(k) funds directly into your IRA account without penalty or taxes thereby combining your retirement plans into one manageable IRA option.

Application

Download Traditional IRA Application

Contact a member service representative by calling 1.844.825.6728 or visit one of our branches to discuss your needs.

Roth IRA

A Roth IRA does not offer tax benefits for account deposits, however the dividends earned on the funds are tax-free. A Roth IRA also has income eligibility restrictions as set by the IRS as well as an annual contribution limit, but funds, at the time of withdrawal, are not taxed. Funds may still be penalized however, but only if they are withdrawn prior to the age of 59½ with a few specific exceptions. A member service representative at Valor can give you an idea of what those exceptions are as well as help you to determine which IRA plan would be the best for your situation.

Application

Download Roth IRA Application

Contact a member service representative by calling 1.844.825.6728 or visit one of our branches to discuss your needs.

Don't wait any longer to supplement your retirement income with an IRA. Contact a member service representative to get started today and be ready for when the golden years roll around!


Conditions & Notes

* Annual Percentage Yield


Rate current as of: 6/01/2016

Need to update your beneficiaries?

Download, print, and return this form to the credit union.