Individual Retirement Accounts (IRAs)

All IRA Accounts are insured up to $500,000:  $250,000 by the National Credit Union Administration (NCUA) and $250,000 by Excess Share Insurance (ESI).

Traditional IRA

The Traditional IRA is a retirement savings plan that offers tax deferred earnings and the possibility for tax deductible contributions.^** Sun East offers various types of investments: a variable rate share account, and fixed rate certificate terms. The variable rate share account can be funded through your payroll deduction.

Roth IRA

The Roth IRA is an individual retirement account that can be funded with non-deductible contributions.^** It is more flexible than other retirement plans with more opportunities for tax-free and penalty-free distributions. Owners may continue to make Roth IRA contributions after age 70 1/2, as long as they meet the compensation requirements. Unlike the Traditional IRA, there are no distribution requirements.

Coverdell Education Savings Account (formerly Education IRA)

This account is designed to assist parents and others to save for a child's education. While contributions^** to this type of Account are not tax deductible, the earnings do grow tax deferred and have the potential to be withdrawn tax free. This Account can only be used for education expenses such as tuition, fees, books, supplies and equipment required for the enrollment or attendance of a designated beneficiary at an eligible education institution.

^**All contribution limits are federally regulated and are based upon modified adjusted gross income.

Dividends Rates

Dividends rates