Individual Retirement Accounts

Harbor with boats

If you have earned income, you are eligible for an Individual Retirement Account. In addition to being an excellent way to plan for retirement, there are immediate tax advantages.

Money deposited to an IRA may be deductible from your taxable income, and dividends earned on IRAs are tax deferred. IRAs can be opened in the form of an IRA Club Account or in the form of an IRA Certificate with a specific maturity period.

The Credit Union offers Regular IRAs, Roth IRAs and Education IRAs to provide members flexibility in saving for retirement and/or education needs. Dividends are paid monthly. Rates are posted in the credit union lobby.

You are never too young to start saving for a financially secured retirement.

Fall time on Penobscot Telos River at Abol Falls in Millinocket, Maine