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Individual Retirement Accounts

Just $500 gets you started

Retirement shouldn't be just for the rich. Now everyone can open an Individual Retirement Account at STCU.

Just $500 opens your account, putting you on the road to early retirement when you make regular contributions to your IRA.

STCU's IRAs provide you with great choices for investing in your future, with possible tax advantages.Plus, if later you have the option to make qualified withdrawals to pay for future college, medical, and first-home buying expenses. (Consult your tax adviser about possible tax advantages.)

Tell me about IRAs

If it helps, STCU offers the following basic information to help understand how an IRA works:

Traditional IRA

Roth IRA

Get an immediate tax deduction on your contributions. Plus, your earnings grow tax-deferred until you begin withdrawing the funds at age 59 1/2. Federal law allows most people to make an annual contribution of up to $5,000 in earned income to an IRA; up to $6,000 if you are 50 or older. You can make regular deposits to your fund throughout the year or deposit a lump sum before tax day. STCU IRAs are federally insured up to $250,000.

With a Roth IRA, your contributions are already taxed, but the earnings grow in your account tax-deferred. So at age 59 1/2, and following a five-year required investment period, your funds can be withdrawn tax-free.While building your IRA, you can make withdrawals at any time without tax penalty. Qualified withdrawals can be made for the purchase of a first home or to pay for college tuition. STCU IRAs are federally insured up to $250,000.

What's your best investment option?

Most analysts agree that if you have more than 7-8 years before you need the proceeds, the Roth IRA is a better deal. Here are two of the most popular choices:

IRA/Roth IRA Certificates	IRA/Roth IRA Savings
Minimum opening balance of $500 or more. Set your certificate terms from 6 to 60 months, locking in your base rate. When your balance reaches $2,000, $10,000, $25,000, $50,000, $100,000, $500,000 or $1,000,000 you automatically begin to earn a higher rate. Eyeing long-term goals? A high-yielding five-year certificate also is available.	No minimum contribution. Earn certificate-like yields on your IRA. Flexibility of a money market account. When your balance reaches $6,000, your dividend increases to a higher tier for the best possible yield.

Other options

Simplified Employee Pensions. IRA certificates for Simplified Employee Pension accounts also are available through STCU. Certificates are available for six months to five years, allowing the self-employed, sole proprietor, partnership, small business, and corporation to provide retirement plans for themselves and their employees.

VALIC Financial Advisors Inc.* As STCU's investment partner, VALIC can help you open an IRA with access to mutual funds, variable annuities and other regulated investments that the credit union cannot offer. Visit the VALIC Financial Planning Center or come to STCU, where there's a VALIC advisor in every branch!

Got an IRA invested elsewhere? Whether you're waiting for the financial markets to improve, or need a more stable place to transfer your qualified plan from a former employer, STCU can help you transfer your fund with almost no effort. With your authorization, we can do the entire transaction in one visit to an STCU branch, so you don't have to return to the former institution to move your IRA.

Contact STCU today!