Individual Retirement Accounts at UMe Credit Union in Burbank

about | open an account | contact

We offer two common types of IRAs - Traditional and Roth. Each has its unique benefits and eligibility requirements. To find out which one is right for you, compare the following:

	Traditional IRA	Roth IRA
Eligibility	You must be under 70 ½ years old.	Available for all ages.

Contribution limits (2009 - 2010)	$5,000 $6,000 (if age 50 or older by 12/31/09)	$5,000 $6,000 (if age 50 or older by 12/31/09)

Contribution deadline	IRAs must be opened by April 15 the prior tax year, for previous tax year benefits.	IRAs must be opened by April 15 the prior tax year, for previous tax year benefits.

Income limit	Anyone is eligible to contribute, but not everyone will receive the tax benefit.	Up to $95,000 for Single filers. Up to $150,000 for Married (combined annual income).

Advantages	Earnings are tax-deferred until withdrawn. This may help you decrease your taxable income to a lower tax bracket. No income restrictions.	Tax free withdrawals on the principal and all earnings. No mandatory distribution age. No minimum withdrawal requirement.

Disadvantages	Withdrawals before 59 1/2 are subject to a 10% penalty.*	Contributions are not deducted from your taxable income.

Current Rates	View	View

Have a question? Call 818) 238.2900

IRA Overview

IRA Options

Ways to Invest

FAQ

Loans

Banking

Manage Your Account

Member Center

Rates