Individual Retirement Accounts

The Individual Retirement Account, or IRA, is simply a tax-deferred retirement savings plan. Taxes on your contributions and/or interest are deferred until you withdraw the funds. In some cases, your IRA contributions are tax deductible from your gross income. Consult a professional tax advisor for complete information.

Traditional IRAs

A Union Federal IRA is a great way to ensure a more secure retirement for yourself and your family. Union Federal IRAs earn a competitive rate of interest and are separately insured by the FDIC. Union Federal has several different Traditional IRAs available each with a particular investment goal in mind. See a Union Federal Customer Service Representative for more details.

Roth IRAs

The Roth IRA account offers an alternative to the traditional IRA account, and although it doesn't provide for an upfront tax deduction, it allows for the tax free withdrawal of all contributions and earnings at retirement. The Roth IRA account may be better depending on the person's tax situation. Please consult a professional tax advisor for complete information.