Individual Retirement Accounts (IRAs), both Traditional and ROTH IRA accounts have many advantages when you are saving for your retirement.

Choose from IRA Savings (minimum $50 deposit) or IRA Certificate accounts (minimum $1,000 deposit) to suit your individual investment goals. You’ll receive tax-deferred interest on your IRA earnings until you can begin withdrawing after age 59 1/2.

The major benefit of Traditional IRAs is that contributions can be made to the account which are considered fully deductible, meaning all contributions are tax-deferred until they are withdrawn.

IRA Account
Members planning their retirement strategies will certainly want to look at what Shell FCU can offer with regular IRAs. The Taxpayer Relief Act of 1997 created a variety of new IRA options and drastically changed the rules for the traditional IRA.

Traditional IRAs are more attractive than ever because expanded income limits mean more people will be able to make tax-deductible contributions. In addition, penalty-free withdrawals are allowed for qualified higher-education expenses and for a first-time home purchase.

Roth IRA Account
An additional option when planning your retirement is a Roth IRA. Roth IRAs are very similar to traditional IRAs but with different guidelines for investors.

Named after Senator William Roth of Delaware, a longtime IRA advocate, the Roth IRA allows you to contribute up to $4,000 in 2005-2007. Unlike a Regular IRA, those contributions are not tax-deductible and there are income limits for Roth IRAs. For more detailed information concerning IRAs, stop by and speak with a member services representative.

Certificate / Certificate IRAs can be opened with a minimum $500 deposit in a number of terms (6, 12, 18, 24, 30, 36, 48 and 60 months) See the rate schedule for current rates.