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Individual Retirement Accounts
(IRAs)
Traditional IRA
A
Traditional IRA is an account that allows qualified
tax-deductible contributions and also allows contributions and
earnings to grow tax deferred. This means you don't pay taxes on
your contributions or earnings until you withdraw them.
The Roth IRA
A
Roth IRA is a nondeductible account that features tax free
withdrawals of earnings after a five-year holding period and when
certain requirements are met. Your contributions and earnings
accumulate tax free. Since the money you contribute has already been
taxed, you may make tax-free and IRS penalty-free withdrawals at any
time—as long as the amount withdrawn is less than or equal to the
contributions already made. You may invest in a Roth IRA in addition
to any contributions you make to your company-sponsored retirement
plan.
For more information about our
Individual Retirement Accounts, please call one of our friendly
member services representatives, or visit a local California
Community Credit Union
branch office
near you.
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8815 Folsom
Boulevard