Lennox Employees Credit Union - IRA's

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Federally insured by NCUA

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IRA's

We know how important it is to save for your retirement or your child's education.  If you payroll deduct just a small amount each pay period, you can create a substantial nest egg or fund for your child's higher education.

We offer the three common IRA's:

1)  Traditional IRA 
Defers taxes on the earnings until withdrawn; contributions may be tax deductible.

2)  Roth IRA
Earnings may be tax free if the account is open for 5 tax years & withdrawn for a qualified reason.  Contributions are not tax deductible .

3)  Education IRA
Tax and penalty free withdrawals for qualified expense.  Contributions are not tax deductible.


 

INVESTMENT OPPORTUNITIES:

  • IRA Share Account -- no minimum balance required.
  • IRA Share Certificate -- 18 month term.  A minimum deposit of  $1000 is required to open a certificate.