Individual Retirement Accounts (IRAs)



IRAs are a safe and smart way to build wealth for the future while earning tax advantages today. Many financial and investment institutions require thousands of dollars in initial investment to open an IRA. At Northeast Community Credit Union, you can open an IRA with an initial investment of only $100. Also, you can choose the type of IRA that suits your investment needs the best: Traditional or Roth.


For details on the different types of IRAs, or to open one for yourself or your child, call any location. It's your future--invest in it.

Traditional IRA

     *A Traditional IRA offers tax-deferred earnings and possibly tax deductible contributions if you meet the requirements.

     *If you and/or your spouse actively participate in an employer-sponsored retirement plan, you can deduct contributions only if your income is below certain limits.

     *If neither you nor your spouse participates in a retirement plan, your traditional IRA is deductible.

     * You can contribute if you earn compensation during the year and will not reach 70 ½ by the end of the year.

     *When you withdraw from a traditional IRA your withdrawal generally will be treated as taxable income.

Roth IRA

       *Contributions are not tax-deductible, however, you eventually can withdraw contributions and earnings from a Roth IRA tax-free.

        *To contribute to a Roth IRA your modified adjusted gross income must meet income limits that change year to year.

        *You can withdraw funds tax-free before retirement under certain conditions: if your funds have been in your account for at least five years and you’re older than 59 ½, you buy a first-time home, or if you become disabled.

        *You’re not required to receive distributions during your lifetime. Your beneficiaries can then spread distributions out over their lifetimes.

        **NOTE: Speaking with a tax consultant is the best way to decide which IRA type is best for you and your family.


Your Insured Shares:

Your shares are insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), an arm of the National Credit Union Association. Not one penny of insured savings has ever been lost by a member of a federally insured credit union. The NCUSIF is backed by the full faith and credit of the United States government. Your money is safe with us.


Equal Housing Opportunity Member NCUA

Rates subject to change without notice

Certain Restrictions Apply

 © 2008 Northeast Community Credit Union


ABA / Routing #  264278827

NMLS #520867


External Link Disclaimer: *Every time you click on an external link, you may be leaving  the NCCU web site and linking to an alternate web site that is not operated by NCCU. The appearance of a link on this or any other Northeast Community Credit Union page constitutes neither an endorsement nor recommendation by NCCU. The presence of a link in any way should not be construed as a suggestion that the site has any relationship with NCCU. When viewing these pages please remember that: (1) NCCU is not responsible for the content, product or services advertised on those sites; (2) NCCU does not guarantee the products, information, or recommendations provided by linked sites; (3) NCCU is not liable for any failure of products or services advertised on those sites; (4)“NCCU does not represent either the third party or the member if the two enter into a transaction (5)The linked website may have a privacy policy different than that of NCCU; (6) The linked website may provide less security than that of NCCU's website.