Huntington C&O Railway Employees Federal Credit Union

901 Sixth Avenue * Huntington, WV 25701 * (800)643-5039

 

INDIVIDUAL RETIREMENT ACCOUNTS

Effective 04/01/2008. Subject to change without notice.

Investment Type Rate Annual Percentage Yield
Passbook IRA 1.75% 1.76%
12 Month Certificate 2.75% 2.78%
24 Month Certificate 2.75% 2.78%

Passbook IRA rates are variable. Both 12 and 24 month certificate rates are fixed. Dividends are compounded and credited monthly on all IRA's. Deposits to passbook IRA's can be made over the counter, by payroll deduction or direct deposit. There is a penalty on early withdrawals.

IRA Q&A

Q. Who can contribute to a traditional IRA?

A. Anyone under the age 70 1/2 with income from compensation may contribute.

Q. How much can I contribute?

A. For tax year 2008, total combined contributions to Roth and traditional IRA's of up to $5,000 or 100% of compensation, whichever is less. Persons 50 and older can make an additional "catch-up" contribution of $1,000 for tax year 2008.

Q. What tax advantages do traditional IRA's offer?

A. IRA earnings compound without tax until withdrawn, usually outperforming taxable, non-IRA investments. Also, contributions may be tax-deductible.

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Your savings federally insured to at least $250,000 and backed

by the full faith and credit of the United States Government

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National Credit Union Administration, a U.S. Government Agency

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