Retirement Accounts

  • Direct deposit of paycheck for IRA contributions is accepted
  • Convenient deposits can be made in person or by payroll deduction
  • Security: we don’t invest your money into something that might lose value—it stays here

Questions?

Call us at 706.291.9290,
or visit one of our locations

Traditional IRAs

A Traditional IRA is a type of retirement plan that offers tax-deferred earnings and the possibility for tax-deductible contributions. These tax advantages make the traditional IRA a powerful tool in creating a balanced, long-term savings plan.

  • Earnings accumulate tax-deferred
  • Contributions are tax-deductible if you qualify
  • IRAs carry their own deposit insurance up to $250,000 that is separate from your other deposits at NWGACU
  • You can contribute to a traditional IRA if you earn compensation and you will not reach age 70½ by the end of the year.
  • If you meet the eligibility criteria and you are under age 50, you can contribute up to $5,000. For owners age 50 or older, your annual contribution limit is $6,000.

Roth IRAs

A Roth IRA is an individual retirement account that offers generous incentives to boost your retirement savings, as well as more ways to use your nest egg.

  • Contributions are allowed at any age
  • Qualified distributions are tax-free
  • Flexible withdrawal options are available
  • The money in your Roth IRA, including earnings, can be withdrawn tax-free. Of course, you must conform to certain tax requirements to get this tax-free advantage.
  • The annual contribution limit for someone under age 50 is $5,000. The annual contribution limit for someone age 50 or older is $6,000.

Find out more about the best option for you over the phone at 706.291.9290 or 706.802.0030 or stop by either one of our offices to speak with a Financial Services Officer

The above information is not intended as tax advice. Please consult a tax professional.