WHAT OUR MEMBERS SAY
WHAT OUR MEMBERS SAY
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“I recently rolled my 403(b) retirement plan to SchoolsFirst FCU. I love being able to log in to see my account grow.”

- Tracy F.
Member Since 2002

 

About SchoolsFirst FCU
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403(b) Investment Providers
Traditional vs. Roth: Which IRA is Right for You?
Roth IRA
Roth IRA
 

Although Roth IRA contributions aren't tax-deductible, they offer a potentially greater tax benefit.1

 

All contributions and earnings left in the Roth IRA for at least five years and distributed after age 59½ aren't taxed, no matter what your tax bracket or income level is.

 

Open an IRA online

 

Features

  • Contribute up to $6,000 per year.
  • If you are age 50 or older, you may contribute an additional $1,000 under the catch-up provision.
  • Annual contributions to all your IRAs combined (traditional or Roth) are limited to 100% of your annual compensation, or the annual limit set by the IRS per individual, whichever is less.
  • The minimum opening deposit on IRA Share Certificates is $500; $10 for Accumulation IRAs.

 

Tax Considerations

  • There are income limits to contributing to a Roth IRA: If you are single, your modified adjusted gross income, or MAGI, must be under $135,000.
  • If you are a married filing jointly your MAGI must be less than $199,000.
  • If you are married filing a separate return, lived with your spouse at some time during the year, and your gross income was less than $10,000, you can contribute a reduced amount to a Roth IRA.

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

 

You can maximize your tax savings by selecting the IRA that is right for you.1 As with any retirement plan, we encourage you to discuss your needs with one of our financial advisors.
 

Online

Open an IRA in Online Banking

 

Call

Call 

 

800.462.8328 ext. 4116

Monday through Friday, 9 a.m. to 5 p.m.

 

Email

 

Send an email to investments@schoolsfirstfcu.org

 

Branch

Visit

 

Any SchoolsFirst FCU branch

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

 

 

 

Disclosures

1Please consult a qualified tax professional for tax advice on your specific circumstances.

 

Retirement planning advisors and services provided as a benefit to SchoolsFirst FCU Members by SchoolsFirst Plan Administration, LLC, a wholly-owned affiliate of SchoolsFirst FCU. Securities sold, advisory services are offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with SchoolsFirst FCU, through the financial services program, to make securities available to Members. Not NCUA/NCUSIF/FDIC insured, may lose value, no financial institution guarantee. 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.

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