WHAT OUR MEMBERS SAY
WHAT OUR MEMBERS SAY
About SchoolsFirst FCU

“The Credit Union has something for everyone, from someone who is financially savvy to a person who just needs basic services.”


– Amy C.
Member Since 2010

About SchoolsFirst FCU
MOST POPULAR CONTENT
MEMBER FAVORITES Estate Planning & Trust Services
Meet Our Financial Advisors
457(b) Investment Providers
403(b) Investment Providers
Mutual Funds
Traditional IRA
Traditional IRA

Traditional IRA is offered through CUNA Brokerage Services, Inc.1, a broker/dealer focused on serving credit union members. CUNA Brokerage Services, Inc. is an affiliate of CUNA Mutual Group.

 

Check the background of our investment professionals on FINRA's BrokerCheck.

 

CBSI is under contract with the Credit Union to make securities available to Members.

 

 

Members under the age of 70½ who have earned income and would like to defer taxes on retirement funds should consider the Traditional Individual Retirement Account (IRA).

Open an IRA online

Regardless of income or participation in other pension plans, taxes on Traditional IRA earnings are deferred until you withdraw the money, usually during retirement when you will most likely be in a lower tax bracket.2


Features

  • Contributions, up to $6,000 per year.
  • Individuals age 50 years or older may contribute an additional $1,000 under a catch-up provision.
  • Annual contributions to all your IRAs combined (traditional or Roth) cannot exceed your annual earned income or the annual limit set by the IRS per individual, whichever is less.
  • Minimum opening deposit is $500 on IRA Share Certificates and $10 on Accumulation IRA.

 

Tax Considerations

  • For single taxpayers covered by a workplace retirement plan, the phase-out range is $66,000 to $76,000.
  • For married couples filing jointly, where the spouse making the IRA contribution is covered by a workplace retirement plan, the phase-out range is $105,000 to $125,000.
  • For an IRA contributor who is not covered by a workplace retirement plan and is married to someone who is covered, the deduction is phased out if the couple’s income is between $198,000 and $208,000.
  • For a married individual filing a separate return who is covered by a workplace retirement plan, the phase-out range is $0 to $10,000.

 

Visit the IRS website to learn more about investing in a Traditional IRA.


 

You can maximize your tax savings by selecting the IRA that is right for you.2 As with any retirement plan, we encourage you to discuss your needs with one of our financial advisors.

 

Traditional IRA is offered through CUNA Brokerage Services, Inc.1, a broker/dealer focused on serving credit union Members. CUNA Brokerage Services, Inc. is an affiliate of CUNA Mutual Group. For more information about CUNA Brokerage Services, Inc., please visit cunabrokerage.com.


Open an IRA

Online

Open an IRA in Online Banking

 

Call

Call 

 

800.462.8328 ext. 4300

Monday through Friday, 7 a.m. – 7 p.m.
Saturday, 9 a.m. – 3 p.m.

 

Email

 

Send an email to iraservices@schoolsfirstfcu.org

 

Branch

Visit

 

Any SchoolsFirst FCU branch

 

 

Disclosures

1Financial professionals are registered representatives of CUNA Brokerage Services, Inc. Representatives are registered, securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, which is not an affiliate of the credit union. CBSI is under contract with the Credit Union to make securities available to Members. Not NCUA/NCUSIF/FDIC insured, may lose value, no financial institution guarantee, and not an obligation of the Credit Union. Not a deposit of any financial institution. CUNA Brokerage Services, Inc. is a registered broker/dealer in all fifty States of the United States of America. FR-3438580.1-0221-0323

2Please consult a qualified tax professional for tax advice on your specific circumstances.

 

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RELATED CONTENT
RELATED CONTENT
Retirement & Investment Forms •  Retirement & Investment Forms
 
 
403(b) and 457(b) Plan Administration •  403(b) and 457(b) Plan Administration
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