A Plan to Fit Your Own

At the Library of Congress FCU we’re proud to help you plan for your future with the right IRA savings option.

IRA Share Accounts

When you’re looking for tax savings now or a lower tax rate at retirement, the right IRA Share Account could check off all the boxes, including tax-deferred earnings on traditional IRAs, tax-free earnings and withdrawals on Roth accounts. Leave the money in the account to maturity and avoid any early withdrawal penalties.

• IRA Share Accounts have no minimum balance requirement
• IRA accounts are insured separately up to $250,000 per account, in addition to the NCUA insurance available on other LCFCU accounts

IRA Certificates

An IRA Certificate helps grow your savings with a minimum balance of $1,000 and terms up to five years. As always, IRA accounts are insured separately up to $250,000 per account, in addition to the NCUA insurance available on other LCFCU accounts.

Education IRAs

Get a head start in saving for your child’s education with an Education IRA (Coverdell Education Savings Account). The funds can be used for all education levels, from elementary through graduate school.

• Contributions up to $2,000 per child, per year (if income eligible) until the child is 18 years old*
• Funds may be transferred among all children in the family
• Investment grows tax-free as long as the money is used to pay for qualified education expenses

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Let’s Do the Math

*Please always consult a tax advisor for contribution eligibility. Restrictions may apply, contact us for details