An Individual Retirement Account (IRA) provides either a tax-deferred or tax-free way of saving for retirement. The type of IRA that is right for you depends on your financial goals and situations, though Traditional and Roth IRAs are the most common choices.

IRAs typically offer a higher interest rate than money market funds or CDs but there can be penalties for early withdrawal as well as contribution limits and income limits. Your tax professional will be able to advise you on what applies to your specific situation.

Traditional IRAs, Roth IRAs, and Coverdell Education IRAs are available at Fulda Area Credit Union. Click here to see the latest IRA rates or talk to a credit union representative for details.

last edited on 02/18/10