Individual Retirement Accounts (IRAs)

MAXIMIZE YOUR RETIREMENT FUNDS WHILE SAVING BIG ON TAXES.

When it comes to saving for retirement, an IRA is one of the most powerful tools at your disposal. At White Eagle, we offer several types of IRAs to meet any need. Let us help you find the right solution for your retirement strategy.

Traditional IRA**
  • Eligible if under 70 1/2 and meet the adjusted gross income requirements
  • Contribute up to $6,500 ($5,500 if under age 50) per year or 100% of your annual income, whichever is less
  • Couples may contribute up to $13,000 ($11,000 if under age 50), if one spouse is working and the couple files jointly

Roth IRA**
  • Eligible if modified adjusted gross income meets required limits
  • Contributions are not tax deductible; however, all earnings are tax-free
  • Contribute up to $6,500 ($5,500 if under age 50) per year or 100% of your annual income, whichever is less
  • Couples may contribute up to $13,000 ($11,000 if under age 50), if one spouse is working and the couple files jointly
  • No mandatory distributions at age 70½

IRA Certificates**
  • Minimum $500 opening balance
  • Short-term accounts starting at 6 months
  • Long-term accounts starting at 12 to 60 months
  • Insured to the maximum allowed by NCUA
  • Penalties assessed for early withdrawals
  • Competitive market interest rates

Coverdell Education Savings Account (CESA)**
  • Save for a child’s educational needs
  • Child must be a member of White Eagle CU and under 18
  • Contributions are not tax deductible, however, earnings are tax free
  • Total contribution cannot exceed $2,000 in any one year, no matter how many accounts have been established

 

Certificate Terms Dividend Rate APY*
Term Share : 6 Months 0.55 0.55
Term Share : 1 Year 0.80 0.80
Term Share : 2 Years 1.20 1.20
Term Share : 3 Years 1.55 1.56
Term Share : 4 Years 1.64 1.65
Term Share : 5 Years 2.13 2.15
* APY - Annual Percentage Yield Rates effective 01/01/16
** Consult your tax advisor for contribution and deductible limits.

Traditional vs. Roth:

Compare the Benefits

  • IRA Mini Comparison Chart Image
Use this handy chart to compare the differences between a Traditional IRA and a Roth IRA to see which option best fits your needs.