Individual Retirement Accounts (IRA)

A wide variety of IRA and IRA Certificate accounts are available for our members. Deposits are federally insured up to $250,000 per account by the National Credit Union Administration.

IRA Accounts
The traditional IRA savings account pays interest monthly. The maximum deposit allowed for 2012 is $5,000 or the amount of your taxable compensation for the year, whichever is the smaller amount. Check for the rate currently in effect now. Click here for account disclosures.

Roth IRA
Single individuals with income less than $105,000 may contribute $5,000 (for 2011-2012) and individuals over 50 may contribute $6,000 (2011-2012) to a Roth IRA. Single individual’s earning between $101,000 and $116,000 may make a partial contribution to his or her Roth IRA. If a single individual has an Adjusted Gross Income of over $116,000, he or she may NOT contribute to a Roth IRA.

For 2012 if contributions on your behalf are made only to Roth IRAs, your contribution limit will generally be the lesser of $5,000 or your taxable compensation for the year. If you were age 50 or older before 2012 and contributions on your behalf were made only to Roth IRAs, your contribution limit for 2012 will generally be the lesser of $6,000 or your taxable compensation for the year. However, if your modified adjusted gross income (AGI) is above a certain amount, your contribution limit may be reduced.

Married couples with a joint annual gross income of less than $166,000 may contribute $5000 (for 2011-2012) to a Roth IRA. Those married couples earning between $166,000 and $176,000 may make a partial contribution to a Roth IRA.

Married couples earning over $169,000 may not contribute to a Roth IRA for that year. These rules may change as government policy is adopted.

Click here for account disclosures

Coverdell Education Savings Account IRA
Coverdell Education Savings Account (ESA) IRA programs – Special IRS rules may apply and you should consult your tax advisor and consider special IRA rules before investing. We offer very competitive rates and a variety of options.

If you have questions on how a Roth or ESA IRA may benefit you, contact Cecelia Viersen, our Member Services Manager at (616) 364-7283 ext 172 or toll free at (888) 364-6928 or email Cecelia at cv@fedcomcu.com.

Click here for account disclosures.

IRA Certificate of Deposit
IRA Certificates are available in terms from 6 to 60 months. All certificates must be opened with a minimum of $500.00. Certificate interest is paid monthly. Penalties apply for early withdrawal; contact Cecelia Viersen, our Member Services Manager, at (616) 364-7283 ext 172 or toll free at (888) 364-6928 or email Cecelia at cv@fedcomcu.com for more details on opening a certificate or for penalty information.

Rates can change at any time. Click here for account disclosures.