Individual Retirement Accounts (IRAs)

Open and contribute to an IRA to help ensure your retirement is as rewarding as you hope it will be. We offer both Traditional and Roth IRAs, each with it's own possible tax benefit. Consult your tax advisor to determine which is best for you. Your IRA at SWFCU earns competitive yields while enjoying the protection of federal deposit insurance up to $250,000. This coverage is separate from and in addition to coverage on your regular savings accounts.
 

Traditional IRA

Offers a possible tax break during your working years. Your annual contribution may be deductible, depending on your income. You’ll pay taxes on your withdrawals at retirement, when you’re likely to be in a lower tax bracket.

Roth IRA

Although your annual contributions are not deductible, your withdrawals at retirement could be tax-free, and your earnings will never be taxed. There is no minimum age at which you must begin making withdrawals, so your Roth IRA can continue to grow tax-free as long as you wish.