INVEST WISELY FOR

STEADY GROWTH



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INVEST

All of Riegelwood Federal Credit Union's accounts are insured by the NCUA, a U.S. Government agency, up to $250k so you can rest easy at night knowing that your investments are safely growing.


THE RIEGELWOOD FCU DIFFERENCE


A variety of options best suited for retirement and everything in between

Lock in your rate over a fixed term with a Certificate of Deposit (CD)

Use a Money Market account for short-term investments, and access to funds without being penalized

Traditional IRAs and ROTH IRAs are perfect for retirement and accrue dividends daily

Use an Educational IRA (Coverdell ESA) to invest in your children's future

All accounts are NCUA-Insured up to $250k per account


ARE YOU PLANNING FOR RETIREMENT?

The good news is you have options. The bad news is that these options can get confusing. Learn more about you options below and feel free to contact us with any and all of your questions.


ROTH IRA VS. TRADITIONAL IRA


ROTH IRA TRADITIONAL IRA
2018 Contribution Limits $5,500 ($6,500, if age 50 or older) $5,500 ($6,500, if age 50 or older)
2017 Income Limits Phase-out begins at $120,000 for single tax filers and $189,000 for couples filing jointly. Both are based on modified AGI. Anyone with earned income can contribute. Tax deductibility is based on income limits and other factors. Contact a tax advisor.
Tax Breaks Tax-free earnings and withdrawals in retirement, but no tax break for contributions. Ordinary income taxes owed on withdrawals, but contributions are generally tax deductible.
Rules Contributions can be withdrawn at any time, tax-free and penalty free, but withdrawals before age 59 1/2 are taxed as ordinary income. Contributions can't be withdrawn before age 59 1/2 without a penalty. Distributions must begin at age 70 1/2.
Other Benefits Up to $10,000 of earnings can be withdrawn penalty-free to cover a first time home purchase after 5 years. Qualified education and hardship withdrawals may be available without penalty. Contact a tax advisor to discuss your specific situation. Up to $10,000 can be withdrawn to cover first time home purchases, but taxes due on distributions. Qualified education and hardship withdrawals may be available without penalty. Contributions lower your AGI. Contact a tax advisor to discuss your specific situation.

ARE YOU PLANNING FOR YOUR CHILD's EDUCATION?

A Coverdell Education Savings Account (Education IRA) can help you save for your child's future. Learn more about you options below and feel free to contact us with any and all of your questions.


WHAT IS A COVERDELL ESA?


Purpose?

To pay for a child’s (beneficiary’s) qualified educational expense including K-12

Tax Advantage?

Grows tax deferred and withdrawals are tax-free when used on qualified expenses

Eligibile Expenses?

Tuition, books, and uniforms (for the same year as the distribution)

Limits?

The maximum contribution per child per year is $2,000

Age Restrictions?

Generally must be used by the time the beneficiary is 30 years old

Income Restrictions?

There are no income limits that affect contribution eligibility


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WANT TO KNOW WHAT PEOPLE ARE SAYING ABOUT RFCU?

"BEST CREDIT UNION IN NORTH CAROLINA"

Riegelwood is the very best Credit Union we have ever done business with, they actually care about their customers and when you get in a crunch, they will help you out by giving you options. I recommend Riegelwood Credit Union as the best Credit Union in North Carolina...

Ruthie Smith
"ALWAYS WONDERFUL"

The staff is always wonderful!

Nancy Burns
"BEST SERVICE AND RATES"

Best service and rates! Everyone is very helpful!

Whitney Lee