IRAs

Don’t Miss the IRA Contribution Deadline – Monday, April 17, 2017

Taxpayers will have until Monday, April 17, 2017, to make 2016 IRA contributions. This applies to both Traditional and Roth IRAs. If you’re just now opening an IRA account at Chaffey FCU, you are still eligible to make a contribution for the 2016 tax year. However, you cannot contribute for 2016 once the deadline has passed.

If you haven’t yet opened an IRA account, we’re here to provide you with options and choices. We’re happy to assist you and answer your questions. And that’s not all! If you’re interested in hearing more about what’s available to you, we can schedule your 1-hour FREE Consultation with the Financial Advisor. Save more for retirement today! Give us a call or visit any branch location.

Individual Retirement Accounts (IRA)

An IRA offers tax-deferred savings. Open a traditional IRA or Roth account or save for your children's college expenses with a Coverdell IRA. The maximum allowable annual deposit depends on the type of IRA you choose. We recommend that you consult with your tax adviser to determine which IRA best fits your personal income, tax situation and goals. We offer two options:

  1. IRA SHARES: No minimum opening deposit. No CU penalty for early withdrawal. Federal early withdrawal penalties apply. Deposit by transfer from another account or financial institution, in person or by payroll deduction.
  2. IRA CERTIFICATE: Minimum 12-month term. Minimum $2,000 deposit. Consult your tax professional on early withdrawal penalties.

Additional Deposit Insurance

Your aggregate savings accounts are insured to $250,000 by the National Credit Union Administration(NCUA), a federal agency. Your accounts are also insured up to an additional $250,000 with coverage provided by ASI, for combined coverage of up to $500,000. IRAs are separately insured up to $500,000 with combined federal and private insurance.