IRAs

Individual retirement account: a tax sheltered retirement savings plan 

Accumulate retirement savings on a tax deferred basis!

• HIGH RATE OF RETURN: The interest rate is generally equal to or greater than rates elsewhere. Dividends are credited and compounded monthly.
• SAFETY: A combined total of your accounts are insured by the National Credit Union Administration (NCUA), a federal government agency, to $250,000.
• NO FEES: Unlike many other financial institutions, First New England will open and service your IRA at no charge. As a result, your entire contribution goes toward your retirement savings.

Roth IRAs

Advantages of the First New England Federal Credit Union ROTH IRA:

• Non-deductible annual contributions of $4,000 (2005-2007).
• Make convenient automatic payroll deposits to our Roth IRA Maximizer; or
• Make an annual contribution to a fixed rate Roth IRA Share Certificate to earn higher dividends.
• 401-K participants are eligible.

Educational IRA

The Educational IRA is a new and safe way to help prepare for a child's higher education expenses. Non-deductible contributions may be made up to $2,000 annually until the child reaches age 18. Distribution, including earnings, are tax-free as long as the tuition and qualified educational expenses are at an eligible college or vocational school.

IRA Maximizer

Accumulate your IRA funds with an IRA Maximizer
To learn more about how to apply for an IRA, please call Member Services at (860) 282-0001.