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Retirement Accounts

When it’s time to retire, you want to be concentrating on family, fun and relaxation – not worrying about money! Hoya FCU offers Traditional and Roth IRAs to help you plan for a comfortable future.

Traditional IRAs:

If you qualify, your contributions to a Traditional IRA may be tax-deductible, providing you with an immediate tax benefit. Distributions after age 59 ½ are penalty-free. Distributions are required after age 70 ½.

Roth IRAs:

Roth IRA contributions are not tax deductible, but your earnings grow tax-free. Once your Roth IRA has been open for a period of at least 5 years, withdrawals after age 59 ½  or withdrawals if you are disabled, purchasing a first home or beneficiary withdrawals after your death are tax-free and penalty-free! Distributions are never required.

Your account choices include:

  • IRA Savings Account
  • IRA Certificates

All of these accounts offer guaranteed returns, so there are no dramatic swings in the value of your retirement account. Your principal funds are insured up to $250,000 by the NCUA, an agency of the Federal Government.