Invest in your future with an IRA

 

Look into the advantages of a Traditional IRA, Roth IRA or Coverdell Educational Savings Account (ESA) from INOVA.  IRA contribution limits have increased over time.  This makes an IRA a very attractive savings option.*

 

• Traditional IRA – dividends are tax deferred until they are withdrawn.
  Contribute up to $6,000 annually*
• Roth IRA – tax free. Contribute up to $6,000 annually*
• Coverdell (ESA) – tax free savings for college expenses.  Contribute up to $2,000 annually per beneficiary*

 

And, your savings are safe at INOVA.  The National Credit Union Share Insurance Fund (NCUSIF) federally insures your savings for up to $250,000.

 

The Traditional and Roth IRAs are federally insured separately for up to $250,000.

 

*Individual retirement accounts (IRAs) are federally insured for up to $250,000 through the National Credit Union Share Insurance Fund (NCUSIF).  Roth and Traditional IRA insurance protection is separate and apart from the regular share account insurance.  Coverdell Education Savings Accounts are insured and are included with membership shares in the Standard Maximum Share Insurance Amount (SMSIA) up to $250,000.  IRAs are subject to limitations and/or penalties imposed by the Internal Revenue Service.  Please consult your tax advisor for additional information.