IRA

Individual Retirement Account

Whether you’re thinking about traveling, gardening, or moving away, planning your retirement begins with a Heartland FCU IRA.

Heartland FCU’s IRA program allows members to invest for retirement with a Traditional or ROTH IRA. Contributions can be made through payroll deduction, automatic transfers, periodic deposits, or lump sum.

  • No commisions
  • IRA insured for an additional $500,000
  • Federal income deductions may be available on qualified contributions*

Traditional IRA

Contributions may be fully tax-deductible*. Investments grow on a tax-deferred basis and your may begin drawing money without penalty at age 59.5. You must begin drawing by the age of 72. For current annual Traditional IRA deposit limits, please visit IRS.gov

ROTH IRA

Contributions are not tax-deductible but can be withdrawn tax-free at age 59.5, and a 5-year waiting period. There is no age you must begin withdrawing funds – they may stay in the account as long as you like. For current annual Roth IRA deposit limits, please visit IRS.gov

* Consult with your tax adviser. Certain requirements must be met (i.e. income does not exceed certain limitations, you are not an active participant in an employer retirement plan, etc…)


REACH Success Financial Education

Individual Retirement Plans

When it comes to savings for retirement, you have many options to choose from to help your reach your savings goals. IRAs, like all accounts, offer their own features that may make them a good option for you. This short, intereactive learning experience will teach you about:

  • How IRAs compare to other account options
  • The different types of IRAs
  • Opening and using an IRA

Our Piqua Branch is closed to walk-ins today. For an appointment please call 937-296-4037. Your December 2020 statement will include your 1099-INT tax form. This information is also reported to the IRS. No separate paper copy of the 1099-INT tax form will be mailed.Click here for information about the 2nd STIMULUS CHECK and other COVID-19 related information.
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