Close this search box.


Individual Retirement Accounts

After years of hard work and planning ahead, your retirement should offer you the relaxation and financial peace-of-mind you’ve always dreamed of. Whether your retirement is right around the corner or far off in the distance, it’s never too early or too late to start planning for it.

Building savings for your retirement with an IRA from EFCU is easy – and it gives you special tax advantages that let your savings grow more quickly:

  • Traditional IRAs – Your savings grow tax deferred, so your contributions may even be tax deductible (see your tax advisor for details).
  • Roth IRAs – With a Roth IRA, your savings grow tax free, so you can pay less in taxes while in retirement (see your tax advisor for details). You can also make tax-free withdrawals to use your Roth IRA funds to help with a first-time home purchase and other financial goals. (Requirements apply, so ask for details.)
  • Coverdell Education Savings Accounts (ESAs) – Saving for your child’s education is easier with a Coverdell ESA, which offers tax-free growth and withdrawals of your funds. Use your child’s Coverdell ESA to cover the cost of tuition, fees, books, supplies, equipment, and in some cases room and board and computers.