Individual Retirement Accounts

The highest yields and potential tax benefits

The Individual Retirement Account (IRA) was created by the US Federal Government to give individuals more control over their retirement planning and accordingly, more security for retirement. The Internal Revenue Service has a comprehensive description of the IRA program. 

Learn the IRS descriptions of the various IRA options available to you.

There are two basic types of self-funded IRAs, the traditional IRA and the Roth IRA. The traditional IRA is funded from tax-deductible contributions, with dividend earnings tax deferred until proceeds are withdrawn. A Roth IRA is funded with taxable contributions, but the withdrawn proceeds are usually tax-free. 

Always consult with a tax professional

Everyone’s tax situation is different, which will affect how much tax benefit is available from an IRA. Accordingly, WPCCU highly recommends you meet with your tax professional before choosing the IRA that is best for you. Once you select the IRA type, you have the same Share Certificate and Flexible Share Certificate options, but with IRA specific benefits.

Relax with deposit insurance up to $500,000

Your aggregate WPCCU savings balance is insured up to $250,000 by the NCUA, an agency of the federal government. Your aggregate WPCCU IRA balance is additionally insured up to $250,000 by the NCUA. You can save with confidence at WPCCU, knowing your money is safe and secure.