At L&N Federal Credit Union, we want to help you save the money you need for a comfortable future through investing in an Individual Retirement Account. An IRA is a tax-advantaged savings plan built around your individual needs.
It’s easy to start, affordable, and can make a world of difference in retirement living. L&N Federal Credit Union offers four types.
The Traditional IRA has been a savvy way to invest money for your future due to its tax deferred status. If you’re under 70 ½ years-old and have earned income, you may be eligible to earn for a Traditional IRA. Learn how you can be a smart investor with L&N Federal Credit Union Traditional IRAs.
The Roth IRA has some income restrictions (see your tax advisor for eligibility details). Roth IRA contributions are made with after-tax dollars.
The sole purpose of a Coverdell Education Savings Account is to help pay for a child’s higher education. All contributions are made with after tax dollars, and withdrawals are tax and penalty free for qualified expenses (e.g. tuition, fees, books, supplies, and certain room and board costs).
Dividends are earned daily and posted quarterly (with the exception of the 6-month IRA certificates, where dividends are posted at maturity).