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They really can be the best years in life
Your options for retirement? World travel, new hobbies, or just pure relaxation. Your options for retirement plans? At Great Erie, we offer Traditional and Roth Individual Retirement Accounts (IRAs). Both come with potential tax benefits - and the potential to provide you with the financial security to do exactly what you want.
- Minimum $50 to open an account
- Contribute up to $6,000 per year ($7,000 if over age 50)
- Guaranteed earnings at competitive rates
- Traditional IRAs offer potential tax deductions for years when you make contributions
- Roth IRAs offer the prospect of tax-free withdrawals
- Build your balance faster with Direct Deposit
- Accounts federally insured by NCUA up to $250,000
Coverdell Educational Savings Accounts
College costs always seem to be on the rise. A Coverdell Account is structured like an IRA, with the funds giving you a head start on paying future education costs.
- Contribute up to $2,000 per student each year
- Any family member - including parents, grandparents, aunts, and uncles - can contribute
- Funds can be used to cover higher education costs, as well as private elementary and secondary school expenses
- Guaranteed earnings at competitive rates
- Account balances and dividends grow tax-free, and withdrawals are tax-free when used for qualified educational expenses
Great Erie Federal Credit Union is a full-service credit union serving the Buffalo and Erie County area including Hamburg, West Seneca, Orchard Park and East Aurora, New York.
