Individual Retirement Accounts

Grandma eating ice cream on beach

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The traditional IRA is funded from tax-deductible contributions, with dividend earnings tax deferred until proceeds are withdrawn. A Roth IRA is funded with taxable contributions, but the withdrawn proceeds are usually tax-free.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.

Get started designing your plan

Contact us today to schedule a no-obligation consultation with our CFS^ Financial Advisors. You may also contact us at 213-580-1623 or Emily.Dixon@wpcu.org

Email disclaimer

Water and Power Community Credit Union will never request sensitive information such as Social Security numbers, Online Banking PINs, passwords, or account numbers by email or text message. Please beware of solicitors who ask for sensitive information. If you receive an email or text message or any other forms of solicitation requesting this type of information, please contact Water and Power Community Credit Union immediately: 800-300-9728

Disclosures

Registered Representatives are registered to conduct securities business and licensed to conduct insurance business in limited states. Response to, or contact with, residents of other states will be made only upon compliance with applicable licensing and registration requirements. The information in this website is for U.S. residents only and does not constitute an offer to sell, or a solicitation of an offer to purchase brokerage services to persons outside of the United States.

^ Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor.  Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The credit union has contracted with CFS to make non-deposit investment products and services available to credit union members.