Individual Retirement Accounts

Towpath Credit Union offers several ways to save for the future with individual retirement accounts (IRA). Each IRA type has its own benefits. To make sure you choose the account that is right for you, please call or stop by.

Traditional IRA

• Earnings are tax-deferred (no taxes until withdrawn)
• Contributions may be tax deductible*

Roth IRA

• Earnings are tax-deferred and withdrawals are tax-free if the account is open for five tax years and withdrawals are for a qualified reason (age 59 ½, disability, death, or a first-time home purchase**).
• Contributions are not tax deductible
• You can withdraw regular contributions at any time, tax-free and penalty-free

IRA CDs
Earn higher dividends on funds in your IRA by transferring it to an IRA CD.
Click here for current Share rates.

*Not intended as tax advice. Please consult a tax professional.