Create a savings strategy for your retirement goals.

The most effective long-term savings plans start with action today. At EMUCU, we offer a choice of Traditional or Roth IRAs to strengthen your retirement savings. Both come with investment options, tax advantages and the comfort in knowing that you're setting the best course for your future.

  • Invest up to $5,500 per year ($6,500 if over age 50)
  • Choose from Certificates and other savings options
  • Traditional IRAs offer possible income tax deductions for every year you make a contribution
  • Roth IRA balances grow tax-free and withdrawals are tax-free
  • Individual Retirement Accounts can often be used for higher education expenses
  • Visit one of our convenient Michigan branches for help in choosing your IRA

Compare Your Options
 

  Traditional IRA Roth IRA
WHO QUALIFIES? Anyone under 70½ who has earned income or whose spouse has earned income. Anyone with earned income whose gross income is below $133,000 (single) or $196,000 (joint).
TAX ADVANTAGE Tax-deferred investment; taxes come out at time of withdrawal. Possible tax deductions. Taxes are paid before contributing. Possibility of tax-free investment growth.
ANNUAL CONTRIBUTIONS Maximum of $5,500. Contributions to a combination of Traditional and Roth cannot exceed $5,500. Maximum of $5,500. Contributions to a combination of Traditional and Roth cannot exceed $5,500.
MANDATORY DISTRIBUTIONS Distributions must begin after you turn 70½. No withdrawal requirements.
ADDITIONAL CONTRIBUTIONS After age 50 you can contribute an additional $1,000 as a “catch up”. After age 50 you can contribute an additional $1,000 as a “catch up”.