© 2023 Heartland Area Federal Credit Union. All rights reserved.
Share Savings
$5.00 to open an account
•
Dividends compounded and paid quarterly
•
Quarterly Statements
•
Account insured to $250,000
Benefits:
•
Allows individuals to become members of the Credit Union
•
Insurance provided by an agency of the federal government
•
Quarterly statements keep members informed on account activity
Other Share Savings Accounts:
•
Christmas Club
•
Vacation Club
•
Additional Share Savings Account
Individual Retirement Accounts An Individual Retirement Account (IRA) should be the central building block of any financial portfolio. When you invest in a Heartland Area Federal Credit Union IRA, you can be sure your money will be there when you need it... because they're insured investments which are built to last. Unlike stocks or mutual funds, all Heartland Area Federal Credit Union's IRA accounts are separately insured up to $250,000 by NCUA, an agency of the federal government. This means your money (both the dividend and the principal) will always be there for you. Heartland Area Federal Credit Union offers three (Traditional, Roth and Coverdell Education) IRA plans. For each of these you may choose either: Variable Rate • $50 minimum balance is required to earn a dividend. • Contributions may be made in "lump sums" or by regular deposits throughout the year. • Dividends are paid quarterly. Fixed Rate IRA • This IRA is in Share Certificates • Terms available: 12 months, 24 months, or 36 months • Minimum $5000 deposit • Dividends are paid quarterly from date of issuance • Check with Heartland Area Federal Credit Union for current rates by calling 402-571-8444 or 1-866-314-2328 or check the link to our savings rates. Traditional IRA • Members may contribute up to $5,000 or 100% of earned income depending on IRS regulations. • If you are over age 50, you may contribute an additional $1,500.00. • Contributions may be tax deductible according to IRS regulations. • No tax on investment growth until funds are withdrawn • NCUA insured separately from regular account • Annual fee of $20.00 Benefits: • Allows funds to grow with taxes deferred until funds are withdrawn • Members are usually in a lower tax bracket at time of withdrawal • Allows member to prepare for retirement • Insured by a federal government agency Roth IRA • Members may be able to contribute up to a combined total of $5,000 to ROTH and/or Traditional IRAs • If you are over age 50, you may contribute an additional $1,500.00. • Contributions are not tax-deductible. However, the money in your Roth IRA including earnings, can be withdrawn tax-free. Of course, you must conform to the plan provisions to get this tax-free advantage. • There is no requirement to start withdrawals at age 70.5 • Small annual fee of $8.50 • NCUA Insured up to $250,000 separately from regular account Benefits: • Allows funds to grow when earnings can be withdrawn tax free after 5 years in a Roth account and after age 59.5 • Allows members to prepare for retirement • Insured by a federal government agency Coverdell IRA (formerly Education IRA) • Parents or grandparents may contribute up to $2,000 per qualified child per tax year through the child's age of 18 • Contributions are not tax-deductible • No annual fee • NCUA insured up to $250,000 separately from regular account Benefits: • The funds are treated as a gift to the beneficiary, and therefore, may only be withdrawn by the responsible individual for qualified higher education expenses • Any funds not used by the beneficiary may be rolled over into another Education IRA for another beneficiary • All funds must be withdrawn by the time the beneficiary turns 30 years old • Remaining funds not used by the beneficiary for qualified education expenses and not rolled over into another Education IRA will be distributed to the beneficiary and subject to normal income taxes and 10% tax penalty • Beneficiary will have funds to help with education expense • Insured by a federal government agency We suggest that you consult with your tax advisor on which IRA is best for you and on the deductibility of your contributions.Savings
Your savings federally insured to at least $250,000 and backed by
the full faith and credit of the United States government. National
Credit Union Administration, a U.S. Government Agency
© 2023 Heartland Area Federal Credit Union. All Rights Reserved.
Share Savings
$5.00 to open an account
•
Dividends compounded and paid quarterly
•
Quarterly Statements
•
Account insured to $250,000
Benefits:
•
Allows individuals to become members of the Credit Union
•
Insurance provided by an agency of the federal government
•
Quarterly statements keep members informed on account activity
Other Share Savings Accounts:
•
Christmas Club
•
Vacation Club
•
Additional Share Savings Account
Individual Retirement Accounts An Individual Retirement Account (IRA) should be the central building block of any financial portfolio. When you invest in a Heartland Area Federal Credit Union IRA, you can be sure your money will be there when you need it... because they're insured investments which are built to last. Unlike stocks or mutual funds, all Heartland Area Federal Credit Union's IRA accounts are separately insured up to $250,000 by NCUA, an agency of the federal government. This means your money (both the dividend and the principal) will always be there for you. Heartland Area Federal Credit Union offers three (Traditional, Roth and Coverdell Education) IRA plans. For each of these you may choose either: Variable Rate • $50 minimum balance is required to earn a dividend. • Contributions may be made in "lump sums" or by regular deposits throughout the year. • Dividends are paid quarterly. Fixed Rate IRA • This IRA is in Share Certificates • Terms available: 12 months, 24 months, or 36 months • Minimum $5000 deposit • Dividends are paid quarterly from date of issuance • Check with Heartland Area Federal Credit Union for current rates by calling 402-571-8444 or 1-866-314-2328 or check the link to our savings rates. Traditional IRA • Members may contribute up to $5,000 or 100% of earned income depending on IRS regulations. • If you are over age 50, you may contribute an additional $1,500.00. • Contributions may be tax deductible according to IRS regulations. • No tax on investment growth until funds are withdrawn • NCUA insured separately from regular account • Annual fee of $20.00 Benefits: • Allows funds to grow with taxes deferred until funds are withdrawn • Members are usually in a lower tax bracket at time of withdrawal • Allows member to prepare for retirement • Insured by a federal government agency Roth IRA • Members may be able to contribute up to a combined total of $5,000 to ROTH and/or Traditional IRAs • If you are over age 50, you may contribute an additional $1,500.00. • Contributions are not tax-deductible. However, the money in your Roth IRA including earnings, can be withdrawn tax-free. Of course, you must conform to the plan provisions to get this tax-free advantage. • There is no requirement to start withdrawals at age 70.5 • Small annual fee of $8.50 • NCUA Insured up to $250,000 separately from regular account Benefits: • Allows funds to grow when earnings can be withdrawn tax free after 5 years in a Roth account and after age 59.5 • Allows members to prepare for retirement • Insured by a federal government agency Coverdell IRA (formerly Education IRA) • Parents or grandparents may contribute up to $2,000 per qualified child per tax year through the child's age of 18 • Contributions are not tax-deductible • No annual fee • NCUA insured up to $250,000 separately from regular account Benefits: • The funds are treated as a gift to the beneficiary, and therefore, may only be withdrawn by the responsible individual for qualified higher education expenses • Any funds not used by the beneficiary may be rolled over into another Education IRA for another beneficiary • All funds must be withdrawn by the time the beneficiary turns 30 years old • Remaining funds not used by the beneficiary for qualified education expenses and not rolled over into another Education IRA will be distributed to the beneficiary and subject to normal income taxes and 10% tax penalty • Beneficiary will have funds to help with education expense • Insured by a federal government agency We suggest that you consult with your tax advisor on which IRA is best for you and on the deductibility of your contributions.Savings
Your savings federally insured to at least $250,000 and backed by
the full faith and credit of the United States government. National
Credit Union Administration, a U.S. Government Agency
