IRAs...they're not just for retirement anymore. You are now able to choose the Education and Roth IRAs, in addition to the traditional IRA that's been in existence since 1974. These new IRA offerings will change the way you save for retirement as well as your children's education.

More than at any other time in the last decade, members are eligible to make tax-deductible contributions to a traditional IRA. Even if you are not eligible to make tax-deductible contributions, you, along with the majority of our members, will most likely be eligible for a Roth IRA. Even though Roth IRA contributions are non-deductible, withdrawals are tax and penalty free if certain conditions are met.

In addition to the tax incentives to encourage saving, you will also have greater access to your funds without penalty. You can make penalty-free withdrawals from traditional and Roth IRAs for qualified education expenses and for a first home purchase. Tax-free withdrawals are also permitted for specific purposes. Withdrawals from Roth IRAs for first home purchases are tax free, while distributions from an Education IRA for qualified education expenses are also tax free.

Our Member Service Representatives are ready to assist and provide you with the necessary information to help you make an informed decision, however, the rules are complicated and can be confusing. With all of these options, it is very important that you consult your personal tax advisor to find out which IRA is best for you.