IRAs
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| Traditional IRA |
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| The Traditional IRA is a tax-deferred account
until withdrawals are made. If you are under 70 1/2 for the
entire tax year and have earned income, you are eligible to
establish a Traditional IRA. |
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| Contribution Amount |
| Tax Year |
Under 50 - Years Old |
Over 50 - Years Old |
2007
2008
2009 & After
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$4,000.00
$5,000.00
$5,000.00 + COLA
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$5,000.00
$6,000.00
$6,000.00 + COLA
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| Other Benefits of the Traditional IRA... |
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- Tax-Deferred Earnings
- Tax-Deductible Contribution
- Age 70 1/2 Minimum Withdrawals Required
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| Traditional IRA Options |
IRA Share Savings / Traditional IRA CDs Rates / Members Financial / First Community Trust
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| IRA Share Savings Plus |
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| Collins Community Credit Union offers a Share Savings Plus Account for IRAs. To open an IRA Share Savings Plus Account, you must deposit at least $100.00. Once the account is opened, a $5.00 minimum balance is required.
This account features a
6-tier savings plan, where you earn more on higher balances.
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Tier 1 - $100,000.00 or More
Tier 2 - $50,000.00 to $99,999.99
Tier 3 - $15,000.00 to $49,999.99
Tier 4 - $5,000.00 to $14,999.99
Tier 5 - $1000.00 to $4999.99
Tier 6 - $5.00 to $999.99
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IRA Share Saving Plus Rates
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Traditional IRA Certificate of Deposit (CD) |
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Collins Community Credit Union offers Certificates of
Deposit "CD" for IRA's at many different terms with high yielding interest. To purchase a CD, you must deposit $1,000.00 or more for at least 12 months. CD's can be bought for 12, 18, 24, 30, 36, 48 & 60-month time periods with a
fixed interest rate, or for 18 months with a variable interest rate. Our regular CD's are all automatically renewable with no additions permitted. You can select to have the interest paid to the CD, your account, or mailed to you in a check, as a distribution. CD's do have an early withdrawal penalty of either 31 or 90 days interest. Collins Community Credit Union does offer special rates on featured CDs. Check our CD rates often, they do change every Wednesday.
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| Traditional IRA CD Rates |
Featured Traditional IRA CDs |
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| Roth Conversion |
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Roth Conversion is the transfer of a Traditional IRA to a Roth IRA. The amount that is converted is subject to full taxation, but no 10% premature-distribution IRS penalty.
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Roth Conversion IRA Options
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| Roth IRA |
| The Roth IRA is a nondeductible account that offers
tax-free withdrawals with certain criteria after the five-year
holding period. As long as you have earned income, you are eligible
to establish a Roth IRA. |
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| Contribution Amount |
| Tax Year |
Under 50 - Years Old |
Over 50 - Years Old |
2007
2008
2009 & After
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$4,000.00
$5,000.00
$5,000.00 + COLA
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$5,000.00
$6,000.00
$6,000.00 + COLA
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| Roth IRA Certificate of Deposit (CD) |
Collins Community Credit Union offers Certificates of Deposit "CD" for IRA's at many different terms with high yielding interest. To purchase a CD, you must deposit $1,000.00 or more for at least 12 months. CD's can be bought for 12, 18, 24, 30, 36, 48 & 60-month time periods with a fixed interest rate,
or for 18 months with a variable interest rate. Our regular CD's are all automatically renewable with no additions permitted. You can select to have the interest paid to the CD, your account, or mailed to you in a check , as a distribution. CD's do have an early withdrawal penalty of either 31 or 90 days interest. Collins Community Credit union does offer special rates on featured CDs. Check our CD rates often, they do change every Wednesday.
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| Roth IRA CD Rates |
Featured Roth IRA CDs |
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| Coverdell Education Savings Acct |
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The Coverdell Education Savings Acct is a
nondeductible account that features tax-free withdrawals for a
child's higher education expenses. Contributions can be made
until the day after the child turns 18.
- $2,000.00 contribution limit
- Tax-Free withdrawals for elementary, secondary, or higher education
(this includes computer technology and equipment.)
- Maximum Age contribution is 18.
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| Coverdell Education Savings Acct Options |
Coverdell Education Savings Acct / Members Financial / First Community Trust
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| Coverdell Education
CD |
Collins Community Credit Union offers Certificates of Deposit "CD" for Coverdell Education Savings Acct with high yielding interest. To purchase a CD, you must deposit $1,000.00 or more for 12 months. This CD has a fixed interest rate, is automatically renewable, and has no additions permitted. You can select to have the interest paid to the CD or to your account. This CD does have an early withdrawal penalty of 31 days interest. Check our CD rates often, they do change every Wednesday.
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| Education CD Rates |
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