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Planning for your retirement is vital to securing a solid financial future for you and your family. The time to start planning is now, and Gulf Credit Union offers you a number of great IRA options to suit your specific retirement needs.

We offer both IRA Club Accounts (minimum balance $100) and IRA Certificates of Deposit (minimum balance $500). Interest is compounded and paid on a quarterly basis on IRA Club Accounts and paid monthly on IRA Certificates. In addition, we offer investment options including Traditional, Roth, and Educational IRAs.

Types of IRA Accounts

Traditional IRA

  • Tax-deferred until withdrawal
  • Contributions may be tax-deductible
  • Mandatory distributions at 70 1/2 years of age

Roth IRA

  • Not tax-deductible
  • Certain withdrawals are tax-free after a five-year holding period
  • Not subject to mandatory distribution

Educational IRA

  • Savings for a child’s higher education expenses (if child is under 18)
  • Not tax-deductible
  • Tax-free, penalty-free distributions for qualified higher education expenses

Additional Information

Explore Your IRA Options Explore Your IRA Options (1389 KB)

Answers to Your Roth IRA Questions Answers to Your Roth IRA Questions (919 KB)

Answers to Your Traditional IRA Questions Answers to Your Traditional IRA Questions (861 KB)

Moving into a Roth IRA Moving into a Roth IRA (608 KB)

Moving into a Roth IRA Rolling Your Way to a Better Retirement (1138 KB)

Answers to Your Education Savings Account Questions Answers to Your Education Savings Account Questions (834 KB)

Taking a Closer Look at Eligibility Taking a Closer Look at Eligibility (1074 KB)

Contact us or stop by any of our locations if you need more information or assistance with any of our retirement investment options.

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