Foothills Credit Union offers numerous kinds of investment/saving accounts which include Money Market, Share Certificate, and IRA accounts. You work hard for your money, now is the time to let your money work hard for you.
The Money Market Account provides you a higher rate of return than a typical savings account, but does not lock you into a set term like Certificates of Deposit.
Certificates of Deposit (Share Certificates)
A Share Certificate is a low-risk investment opportunity available with a variety of terms and competitive yields higher than a normal Savings (Share) account.
Individual Retirement Account (IRA)
An IRA Account is a great tool for building that retirement nest egg or for an education fund. Even if you already invest in your company’s 401(k) plan, an IRA provides additional security. Foothills Credit Union offers Traditional, Roth, and Educational IRA’s. These can come in 2 forms; IRA Share Account or an IRA Certificate Account. All IRA’s are federally insured to at least $250,000 by the NCUA, this insurance is in addition to the Federal insurance on your checking and/or savings account with the credit union.
IRA Share Account
IRA Certificate of Deposit Account
Traditional IRA: This is a tax-deferred savings option which allows individuals to contribute pretax income to the account, up to certain annual limits. Your contributions and earnings will not be taxed until the Money is withdrawn.
Roth IRA: This is a tax-exempt savings option which allows individuals to contribute post tax income to the account, up to certain annual limits. Funds left in the Roth IRA for at least five years and withdrawn after age 59 1/2 will not be taxed, no matter what your tax bracket or income level. Also, unlike a traditional IRA, you do not have to start withdrawing money after you reach age 70 1/2.
Education Savings Account: The Education Savings Account IRA helps you save for your children’s education. $2000 may be contributed annually per child. Your funds may be withdrawn, tax free, for higher education purposes. Deposits must be made before the student turns 18 and disbursed by age 30.