Start saving for retirement today, open an IRA with Crow Wing Power Credit Union.
We offer both Traditional and
Traditional Individual Retirement Accounts (IRAs)
A Traditional Individual Retirement Account (IRA) may provide you significant immediate tax savings, and due to the deferral of all taxes on earnings, the power of compound earnings is strengthened.
You can contribute to a Traditional IRA if you earn compensation and you will not reach age 70½ by the end of the year. Earnings in a Traditional IRA are not taxed until they are withdrawn. The ability to defer taxes on the earnings, and to withdraw in a year when you may be in a lower tax bracket, can mean more after-tax dollars for your retirement.
With a Traditional IRA:
- Earnings accumulate tax-deferred
- Contributions are tax-deductible if you qualify
Roth Individual Retirement Accounts (Roth IRAs)
Roth Individual Retirement Accounts (Roth IRAs) offer unique and exciting savings opportunities, and they’ve gotten better over the years. Roth IRAs give many Crow Wing Power Credit Union members an easy and safe way to plan for the future.
Unlike traditional IRAs, contributions to a Roth IRA are never tax-deductible. However, the money in your Roth IRA, including earnings, can be withdrawn tax-free. Of course, you must conform to certain tax requirements to get this tax-free advantage.
For more information, email or give us a call.
IRA Savings and CD's
IRA savings .25% .25% APY
Minimum balance of $1,000.00
Dividends paid at the end of each quarter and at maturity
A dividend penalty will be charged for early withdrawal*
IRA's federally insured up to $250,000 by National Credit Union Administration (NCUA)
1 Year IRA CD .45% .45% APY
2 Year IRA CD .55% .55% APY
Stop in or call us to obtain the IRA forms to open an account!