Start Saving for the Future

Don't worry, there's still time! You have until April 15, 2011, to open an IRA or contribute to an existing IRA for the 2010 tax year!

With a tax-deferred* Individual Retirement Account (IRA) account, you can enjoy IRA benefits immediately after your retirement. Your money earns a competitive dividend rate without increasing your current tax obligation.

And the best news is that each IRA account is insured up to $250,000 by the National Credit Union Association (NCUA) – coverage that is in addition to the $250,000 on all other combined Xceed Share accounts! learn more about our Share and IRA insurance by clicking here.

IRA Accumulator Account
Offers a variable rate with dividends compounded quarterly. You may use Payroll Deduction for automatic savings. You decide how much or how little you want to save.

IRA Certificate Series Account
Choose your investment from a variety of certificates with minimum balances beginning at $500. Dividend rates are guaranteed until maturity and depend on the term you select.

Roth IRA
Open a new Roth IRA and enjoy expanded after-tax investment opportunities, such as saving for your first home or for a comfortable retirement.

Coverdell Education Savings Account (ESA)
Set aside money with the Coverdell ESA and watch your money grow tax-free* for your children 17 years or younger. When you are ready to spend it for college, it's still tax-free.

Traditional IRA requirements:

• You must have earned income for the year, and by younger than 70½ years.
• Available to those who do not participate in a pension plan at work or who do participate and meet certain income guidelines are eligible to make deductible contributions.
• Contribution limits for 2011 are $5,000.
• Those age 50 and older have a catch-up deal; they can contribute an extra $1,000 a year.
  
• These limits cover both IRA options. For example, for a $5,000 limit, you can put $3,000 in a Roth IRA and $2,000 in a traditional IRA, or $5,000 in one or the other, but not in both.
• No penalty for withdrawals beginning at age 59½ or if member becomes disabled. Distributions are mandetory at age 70 1/2.
• 10% IRS penalty for early withdrawals.* Some exceptions apply.

Roth IRA requirements:

• Contributions are allowed if Adjusted Gross Income is less than $120,000 (single) and less than $177,000 (joint). Contribution amounts phase out between Adjusted Gross Income of $106,500-$120,000 (single), $168,000-$177,000 (joint).
• Contribution limits for 2011 are $5,000.
• Those age 50 and older have a catch-up deal; they can contribute an extra $1,000 a year.
  
• These limits cover both IRA options. For example, for a $5,000 limit, you can put $3,000 in a Roth IRA and $2,000 in a traditional IRA, or $5,000 in one or the other, but not in both.
• At age 59½, earnings may be withdrawn tax free if the funds have been in the account for at least 5 years.
• Prior to age 59½, original contributions may be withdrawn without tax penalty or income tax.
• Qualified "Special Purpose" distributions (of contributions and earnings) are allowed before age 59½ without tax penalty for qualified higher education expenses and for up to $10,000 towards a first time home purchase.

Coverdell ESA requirements:

• Adjusted Gross Income limits are $110,000 (single) and $220,000 (joint). Contribution amounts phase out between Adjusted Gross Income of $95,000-$110,000 (single), $190,000-$220,000 (joint).
• Beneficiaries must be age 17 or under.
• Contribute up to $2,000 per beneficiary, per year.
• Contributions and earnings may only be withdrawn by the beneficiary for qualified education expenses. All funds must be withdrawn by the time the beneficiary reaches 30 years of age.

  * Please consult with your tax advisor for advice before opening any investment account.