Individual Retirement Accounts (IRAs)
In addition to traditional retirement income provided by 401(k) plans, company pensions, and Social Security, Ent IRAs can be a valuable part of your savings strategy.
IRA accounts at Ent are insured for up to $250,000 by the National Credit Union Administration  , an agency of the U.S. Government. And, because
we offer a variety of rates, terms, and account types, you're sure to find an account to meet your investment needs.
Consider one of Ent's IRA Options:
 Flex-Term IRA Certificates
Priority IRA Certificates
IRA Savings Accounts
IRA Contribution Limits & Important Dates
Types of IRAs
Traditional IRA
Roth IRA
Coverdell Education Savings Account
For input on which type of IRA might be right for you, whether you are looking for a way to save for retirement that gives you a tax-break now, looking to take your IRA distributions tax-free, or you want to save for a child's education - use our online IRA Advisor!
FlexTerm IRA Certificates
Ent IRA Certificates provide safety and security and higher returns than traditional savings accounts, but now you can choose your own term. Our FlexTerm IRA Certificates give you more control over your investments because you can select the certificate term that best fits your goals and time horizon.
- Choose a FlexTerm from 3- to 60-months.
- Open your account with as little as $500.
- Enjoy competitive rates.
Priority IRA Certificates
Priority IRA Certificates give you flexibility you probably won't find anywhere else. Start your certificate with a low $5,000 minimum, and enjoy all these great features:
- Choose a FlexTerm from 24- to 36-months.
- Change your rate once during the term - anytime you choose!
- Add to your certificate one time with a deposit of $1,000 or more anytime during the first year!
- Even withdraw up to 50% of your balance one time without a credit union penalty!
IRA Savings Accounts
If you want to make contributions throughout the year and earn higher rates as your balance grows, the Ent IRA Savings Account may be right for you.
And, you can open your account as a Traditional, Roth, or Coverdell Education Savings Account.
- You can start your account with as little as $5.00.
- Make deposits anytime...even build your IRA contributions through Direct Deposit - just ask us how!
- And, take withdrawals with no early withdrawal penalties from Ent.
Types of IRAs
Traditional IRA
This type of IRA is a great way to save for retirement, especially if you'd rather have (and qualify for) a tax break now instead of when you begin taking distributions.
- Your contributions may be tax-deductible; if you participate in a qualified retirement plan your tax deduction may be limited. Consult with your tax advisor.
- Dividend earnings grow tax-deferred until they are withdrawn. Withdrawals are taxed as ordinary income, no matter when they are taken.
- Most withdrawals before age 59 1/2 currently result in IRS penalties in addition to normal income taxes (excluding the qualifying exceptions).
Roth IRA
If you would benefit from tax-free withdrawals after the age of 59 1/2 because you anticipate a higher tax bracket upon retirement, or if you're not eligible to make tax-deductible contributions, a Roth IRA might be the right choice for you.
- Contributions are made from non-deductible after-tax income, and then they grow in a tax-free environment, so your earnings and contributions are tax-free when you take your distributions!
- No penalties are assessed for withdrawals before age 59 1/2, if funds are needed for certain medical expenses, disability, education expenses, or first-time home purchases, if the account is at least five years old.
- And, unlike other types of IRAs, contributions are allowed after the age of 70 1/2 for those with earned income, with no mandatory requirement to begin taking distributions at that age.
Coverdell Education Savings Account
This type of Savings Account makes it easy to save for a child's higher education.
- Generous maximum contributions per child, regardless of how many individuals contribute. Funds can come from any eligible contributor and from any income source, not just earned income, as is required for other types of IRAs.
- Although contributions are non-deductible, dividends are tax-free and withdrawals are not taxed or penalized, unless the funds are used for purposes other than education. Covered expenses include tuition, room and board, books, supplies, and equipment.
- In general, contributions are allowed until the child reaches age 18, and all funds must be withdrawn by the time the beneficiary turns 30. Funds may be transferred to another child in the same family without penalty.
Contribution Limits and Important Dates
- The annual limit for qualified contributions to Traditional and Roth IRAs is $5,000. This increase has the potential to greatly increase your retirement assets!
Remember!
You can make your 2008 contributions until April 15, 2009, and you can contribute up to $5,000! That means you'll earn tax-deferred dividends faster!
- Coverdell Education Savings Account (formerly called Education IRA) contribution limit is $2,000.
- IRA owners 50 years of age or older may now make an additional $1000 annual contribution to their IRAs for a total of $6,000 in 2008.
Dates to remember!
- Contributions for 2008 can be made through April 15, 2009.
- Contributions to your 2008 Coverdell Education Savings Account can also be made through April 15, 2009.
- The earlier you make your annual contribution, the longer your money will work for you!
To open your IRA, call (719) 574-1100 today, or visit any of our service center locations!
We'd like you to know that annual contribution limits apply to IRAs, and penalties may apply for early withdrawal. Penalties could reduce your earnings. Please consult your tax advisor for additional information.
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