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Individual Retirement Accounts Y-12 FCU

We can help you save for your retirement.

If you are working to secure a comfortable retirement, Y-12 Federal Credit Union offers a variety of Individual Retirement Accounts (IRA). Our IRAs combine the high yield of certificates or the competitive yield of our club accounts with the convenience of a regular share account. As a member, you can make deposits to your IRA through the convenience of automatic payroll deduction or over-the-counter deposits at any of our branches up to the limit specified by IRS regulations. We'll help you make sound investments with your retirement funds to maximize the benefits when you will need them the most.


Traditional IRAs are potentially tax-deferred retirement plans; you don't pay taxes on your contributions until you withdraw the funds. Contributions can be made as long as you have earned income.

Roth IRA

With a Roth IRA, you pay taxes upon deposit and withdraw the funds tax-free when you retire.  Contributions can be made after the age of 70½ without any required minimum distributions as long as you have earned income.

Simplified Employee Pension (SEP)

If you're self-employed or work for a participating employer, an SEP plan may be the ideal way to save for retirement. You may make contributions into your own and into each of your eligible employee's SEP plans.  SEPs are available to all types of businesses: sole proprietorships, partnerships and corporations. SEPs must be established under the employee's personal account.

Educational IRA

An education IRA is a tax-advantaged investment account for higher education, now more formally known as a Coverdell Education Savings Account (ESA).  With this educational IRA, parents and guardians are allowed to make non-deductible contributions for a child under the age of 18.  The funds can be withdrawn tax-free when they are needed for educational purposes.
*Y-12 FCU employees are not tax specialists. Consult your tax advisor for your best option.

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