Benefits Of IRAs

With an IRA from North Island Credit Union, you can choose from a wide variety of Traditional and Roth IRA investments, including daily IRAs and IRA certificates with benefits like:

  • Customized withdrawals - lump sum or periodic payments
  • Spousal plans available
  • IRA deposits are federally insured to $250,000 by the National Credit Union Administration (NCUA)
  • Catch-up contributions for individuals who attain age 50 before the end of the taxable year
  • Increased portability of assets between various plan types

Setting Up An IRA


Traditional IRA

Roth IRA

Who it is good for

Individuals who qualify for a current tax deduction or who anticipate being in a lower tax bracket during retirement.

Individuals who do not require an immediate tax deduction. No required minimum distributions during lifetime.

How earnings accumulate

Earnings accumulate on a tax-deferred basis.

All earnings accumulate tax-free.

Options For Existing IRAs

IRA Rollover

When you terminate employment you can elect to have your employer-sponsored retirement plan rolled over into an individual IRA you control.

IRA Transfer

You may transfer an existing IRA to another similar IRA. This is typically done to seek lower costs and consolidate assets.

View our rates and terms for all IRAs.

What makes IRAs such a great retirement savings tool is the special federal tax laws governing the taxation of amounts earned within an IRA. Earnings within Traditional IRAs are tax-deferred until they are distributed from the Traditional IRA. Earnings within Roth IRAs may be distributed tax-free. What's more, Traditional IRA contributions are tax-deductible for many taxpayers. Over time, these special tax features can result in significantly larger IRA savings accumulations than what can be accomplished in ordinary savings tools.

Learn More About Traditional IRAs

Learn More About Roth IRAs

Open an IRA | Service an IRA | Email Us | Talk To A Specialist At (800) 848-5654, ext. 4830

IRA Calculators

Roth IRA Calculator
Traditional IRA Calculator

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