Traditional IRA

"We at TADFCU are concerned about our members future and that includes their retirement."

A Traditional IRA is one our most popular retirement products. With an Traditional IRA you are able to deposit up to $4,000 each year or 100% of your annual earned income, whichever is less. If you are 50 years old or older you are able to contribute $1000 more for a total of $5000.

Traditional IRA's allow you deposit money whenever you want. You can use payroll deduction to put money into your Traditional IRA every time you get paid so you won't forget to make your contribution. Then, when you retire you will have the extra money that you need.

Traditional IRA's also earn quarterly dividends, which are set by our Board of Directors. We also offer IRA Share Certificates and IRA-Market Index Certificates if you want the opportunity to earn a higher interest rate.

With a Traditional IRA, you are eligible for a tax deduction on your Federal Income Tax. But unlike a Roth IRA, you do not have to pay taxes on the dividends you receive at the end of your term.

If both husband and wife are members of the Credit Union, then each may open a Traditional IRA on their account. They may each contribute up to $4,000.00 or 100% of their earned income, whichever is less, per year. This makes a total yearly contribution of $8,000.00. If both are age 50 or over, they can both add another $1000.00 per year, increasing their contribution to $10,000.00.**

We at TADFCU are concerned about our members future and that includes their retirement. If you have any questions please e-mail us now or stop into any of our branch locations and ask to speak to an MSR. There is no better time Experience the Difference at the Tobyhanna Army Depot Federal Credit Union.

**NOTE: Neither IRA may receive more than the maximum contribution allowed ($4,000.00/$5,000.00)