| Certificates | Traditional IRA | Roth IRA | Education Savings Account |
| Platinum IRA Share Account |
Certificates
Enhance your savings by earning the highest dividend rates possible with a Certificate. Certificates require a minimum deposit as low as $500. We offer a variety of terms ranging from 3 to 60 months, as well as competitive, high-yield rates. Select the Certificate link from above for additional information.
IRA
Individual Retirement Accounts (IRAs) are a great way to plan for future retirement as well as other long term goals. By opening a Credit Union IRA and making contributions to your account, you will be able to save for a more secure retirement, your child’s education or the purchase of your first home. Click the links above to get a basic understanding of the Traditional IRA, Roth IRA and Education Savings Accounts that we offer at American Heritage Federal Credit Union.
How Can I Make Contributions?
Making contributions to an American Heritage IRA is easy! Some people like to make the lump sum contribution in the beginning of the year, either by mailing in the deposit or coming into the Credit Union. But there’s an even easier way—it’s called Payroll Deduction. Payroll Deduction allows you to spread your contribution throughout the year, so you don’t take that big bite out of your budget.
IRA Contribution Options:
Transfer
An IRA can be transferred directly from one trustee to another, with a check made payable to the financial institution. Unlike a rollover, a transfer does not have a 12-month waiting period, plus it is tax free.
Rollover
A rollover is a tax-free distribution from one retirement program to another, with the check made payable to you. You are required to rollover a distribution to another qualified retirement plan within 60 days. Rollovers have a 12-month waiting period from one distribution to another.
Direct Rollover
When you receive a distribution from your pension plan, such as 401K or any other qualified employer-sponsored plan, the rollover of funds can be sent directly to your IRA Account. By choosing the direct rollover method of distribution, you will avoid the 20% federal tax that usually applies.
What are the IRA Contribution Limits?
|
Increases in the annual IRA contribution limits |
||||||
2005 |
2006 |
2007 |
2008 |
2009 |
2010 |
|
|
Traditional IRA |
$4,000 |
$4,000 |
$4,000 |
$5,000 |
$5,000 |
$5,000 + Cost of Living Adjustments |
|
Traditional IRA |
$4,500 |
$5,000 |
$5,000 |
$6,000 |
$6,000 |
$6,000 + Cost of Living Adjustments |
|
Roth IRA |
$4,000 |
$4,000 |
$4,000 |
$5,000 |
$5,000 |
$5,000 + Cost of Living Adjustments |
|
Roth IRA |
$4,500 |
$5,000 |
$5,000 |
$6,000 |
$6,000 |
$6,000 + Cost of Living Adjustments |
How Safe Is My IRA? American Heritage is a conservatively-managed, federally-insured, member-owned financial cooperative. We are “not-for-profit,” which means all of our profits after the reserves we make for capital (which ensures the strength and security of the credit union) are returned to you the member in the form of lower loan rates, higher savings rates, lower fees and additional services. American Heritage Federal Credit Union offers you $250,000 of share insurance protection per member shareholder. American Heritage Federal Credit Union also protects you with $250,000 worth of additional share insurance on Individual Retirement Accounts through the Excess Share Insurance Corporation. That’s a total of $500,000 of protection for your retirement savings! |
Looking for an IRA option with retirement? Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free 800-369-2862. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members. CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America. |
