IRAs

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Increase your earnings over time by opening an IRA today.

We offer Traditional IRAs, Roth IRAs, and Coverdell Education Savings Accounts to help plan for your retirement and the education needs of your family.

An IRA savings account can be opened for as little as $5.00. An IRA certificate account can be opened with as little as $500, with terms from 3 to 84 months, to match your investment needs.

Featured Rates

IRA Savings .10%
Annual Percentage Yield
6-11 Month Certificate .30%
Annual Percentage Yield

Determine The Right IRA for Your Needs

Needs vary when it comes to selecting the right kind of IRA, depending on where you are in life and how you want to access your funds in the future.

  • Traditional IRAs are perfect for retirement, because in most cases, your funds must remain on deposit until age 59+. Plus, the money you contribute may be tax deductible. Likewise, your earnings on the IRA account are not taxed until you begin withdrawals.
    • Available as a savings or certificate account.
    • Higher APYs for “jumbo” levels of $50,000 and $100,000.
    • Federally insured by the National Credit Union Share Insurance Fund to at least $250,000. Use the NCUA Electronic Share Insurance Calculator to calculate your insurance coverage.
    • Tax-deductible (consult your tax advisor concerning your situation).
  • Roth IRAs are also good for retirement. The major difference between a Roth and Traditional IRA is that the money you contribute is not deductible in the year in which the funds are deposited. However, your earnings are not taxed when you begin making withdrawals. Distribution isn’t mandatory. You can continue to make deposits well past 70 and a half.
    • Available as a savings or certificate account.
    • Federally insured by the National Credit Union Share Insurance Fund to at least $250,000. Use the NCUA Electronic Share Insurance Calculator to calculate your insurance coverage.
  • Coverdell Education savings account is similar to a Roth IRA in terms of how your money is taxed. Withdrawals must be used for the elementary, secondary, and/or college education of a child before the age of 30 (except for children with special needs).
    • Available as a savings account.
    • Federally insured by the National Credit Union Share Insurance Fund to at least $250,000. Use the NCUA Electronic Share Insurance Calculator to calculate your insurance coverage.

Maximum Annual Contributions

  • The amount you can put aside annually for a Traditional or Roth IRA varies by the year in which the contributions are made.
  • The maximum allowable contribution to a Coverdell Education Savings Account is $2,000 per child, per year.

Contribution Deadlines

  • IRA contributions must be made by your tax filing date.
  • Education IRA contributions must be made within the calendar year.

Additional Options Through HVFCU Financial Services

Mutual funds, annuities, and other investments are additional options available through HVFCU Financial Services, our investment affiliate.

  • Possible higher returns.
  • Variety of options for investing.
  • Not NCUA insured. No Credit Union Guarantee. May Lose Value.
  • See HVFCU Financial Services for more information.

© 2014 Hudson Valley Federal Credit Union

159 Barnegat Rd. Poughkeepsie, NY 12601
ph: 845.463.3011 / 800.468.3011

Routing Number : 221979363