We offer 3 types of IRA's, all with competitive dividend rates. Please contact a tax consultant for more specific details prior to opening your IRA.

Traditional IRA
Offers tax-deferred earnings, and the possibility of tax-deductible contributions.

Coverdell Education Savings Account (Education IRA)
The sole purpose of the Coverdell Education Savings Account (formerly known as the Education IRA) is to help you pay for your child’s education expenses, such as tuition, fees, books, supplies and equipment. In some cases room and board are considered expenses. Your contributions to a C.E.S.A. are not tax-deductible. But there is the potential for tax-free withdrawals, including your earnings. The maximum annual contritbution is $2000.00 per child. You can contribute until the child reaches the age of 18, and the funds must be used by the time the child turns age 30.

Roth IRA
Contributions can be withdrawn at any time tax-free and penalty free. The earnings on your contributions can be withdrawn tax and penalty free for many reasons, most of which there would be penalties with the other two types of IRA's.

IRA Certificate
Once you have opened a Generations Credit Union IRA, you qualify to open an IRA certificate of deposit.

You can transfer the money into your certificate directly from your established IRA account, without any penalties or fees.