Traditional IRA | Roth IRA | TruMark Financial Credit Union

For a financially stable retirement

It’s smart to start saving for your retirement as early as possible. A variety of Traditional IRAs, Roth IRAs, and Coverdell Education Savings Accounts are offered to meet your investment goals. Many provide qualified members with tax benefits, including tax-deductible contributions and tax-deferred compound interest. Consult your tax adviser for details.

Each type of IRA is available as an IRA certificate or a variable-rate share IRA. And, IRA deposits are insured separately from your other savings accounts.

Traditional IRA

Roth IRA

Coverdell ESA

Required Minimum Distribution

Ability to invest after-tax dollars
Contributions may be tax-deductible (consult a tax advisor)
Earnings grow tax-deferred
Possible to take penalty-free withdrawals for reasons such as qualified higher education purchase and first-time home purchase

Open an IRA today
Visit your local branch or call 1-877-TRUMARK

Ability to save money for retirement or major life goals
Possible tax advantages (consult a tax advisor)
Possible to take penalty-free distributions for a first-time home purchase
No age limits for contributions
Higher yield compared to savings
Source of retirement income
Tax-free withdrawals of the principal at any time
Can contribute past age 70 (if you are still working), leaving the money for your heirs

Open an IRA today
Visit your local branch or call 1-877-TRUMARK

Coverdell Education Savings Account (ESA)

Ability to save for qualified educational expenses before the child’s 30th birthday
Contributor does not have to be a relative of the designated beneficiary
Annual contribution limit of $2,000
Wide variety of qualified elementary and high school expenses as well as higher education expenses
Tax-deferred growth and tax-free distributions for qualified expenses

Open an IRA today
Visit your local branch or call 1-877-TRUMARK

IRA owners who attained age 70 1/2 in 2019 or earlier and individuals who attained age 72 in 2021 or later are required to satisfy a Required Minimum Distribution (RMD).

How to set up a RMD:

Visit a local branch to complete an IRA Required Minimum Distribution Election form
Contact TruMark Financial directly at 1-877-TRUMARK to have a form emailed/mailed to you
Click here for instructions and to print a distribution form to be uploaded securely via Secure Message Center or drop off at a branch (We do not recommend mailing)

For a financially stable retirement

Coverdell Education Savings Account (ESA)

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