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ProMedica Federal
Credit Union

Main Office: 2301 West Central Avenue, Toledo, OHIO 43606-3702
Phone: 419-479-4040
Fax: 419-479-4047

Flower Hospital Branch:
Located on the 2nd floor, next to the McKesson Center
Phone: 419-824-1165
Fax: 419-824-5733

The Toledo Hospital Branch:
Located on 1st floor between Jobst and Harris McIntosh Towers
Phone: 419-291-4221
Fax: 419-480-8465

Bay Park Community Hospital
Telephone: 419-690-7609

Home » Savings & Investments » IRAs » Roth IRA
Roth IRA

Tax Advantages

After your Roth IRA is over five years old you can withdraw the amount you put in (NOT the interest it has earned) at ANY TIME and not pay any income tax or penalty. After age 59 ½ you may withdrawal both your contribution AND the interest it has earned and not pay any income tax or penalty.

You may withdraw both your contribution and the interest it has earned, tax-free, before age 59 ½ , if you become disabled or are using the funds for a first- time home purchase and the Roth IRA is over five years old.

You do not have to take mandatory distributions of IRA savings at age 70 ½ , as you would with a traditional IRA.

Make It Easy

Use payroll deduction to have contributions made to your IRA directly from your paycheck. Interest on your Roth IRA is compounded quarterly.

Pump Up Your Compounding – Increase Your IRA Interest

Choose a CD for your IRAs and receive two advantages: your interest is compounded monthly and you receive a higher interest rate.

You will find that our CD rates are the best in the area. We invite you to compare.

Note: There is no annual fee for IRA accounts at your credit union.

For More Details

To find out your eligibility for contribution amounts, tax deductions, beneficiaries, and other additional information; contact your Financial Services Representative at the credit union at 479-4040. We can also send you additional literature on IRAs. It is always recommended that you consult with your tax accountant or financial advisor regarding your choice of an IRA.

 


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  Your Money Is Insured
up to $500,000 per member.
 

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