No matter what stage you’re at in life, saving now with an IRA can better prepare you financially for your future. Whether you are just beginning your career or business, planning for your family, or approaching retirement, it’s never too late to start saving.


Save money now by saving money for later?
If eligible, saving money for your future by making a Traditional IRA contribution may save you money on your taxes* now. Unless you (or your spouse) actively participate in an employer-sponsored retirement plan, contributions to a Traditional IRA are fully deductible. If you (or your spouse) are an active participant, you still may be able to deduct all or part of the contribution, depending on your modified adjusted gross income.


The potential for tax-free* income during retirement is just one of the many reasons to open a Roth IRA.
If you’re eligible to make Roth IRA contributions, then withdraw from your Roth IRA as much as the total amount you’ve contributed-without paying taxes. Because the money you put into a Roth IRA are not deductible, when you take it our later, it is not subject to income tax – or IRS penalty tax. If certain conditions are met, you can take out the earnings in your Roth IRA tax free.
View ROTH IRA Rates


An Educational Savings Account (ESA) or COVERDELL is a great way to set aside money for a child’s education – tax deferred. Use an ESA to make annual non-deductible contributions on behalf of a child until the child reaches age 18**.
Visit a Branch to Discuss ESAs


Thinking of establishing a retirement plan for your business but overwhelmed by the complexity of most retirement plans? Consider a simplified employee pension (SEP) plan. A SEP IRA is set up by the business owner and contributions are made by the business owner for themselves or their employees.
Visit a Branch to Discuss SEPs


Money Market Accounts that fit YOUR needs! Our Investor Money Market and Flexible Money Market accounts offer comprehensive interest rates, tiered balance options, availability and NO risk.
*Sierra Central Credit Union IS NOT providing tax advice on this page for Traditional or Roth IRAs. You should always consult a qualified tax professional for tax advice regarding your specific situation.

**The earnings generated will remain tax deferred while in the ESA. When the child uses money in the ESA to pay for qualified education expenses, the contributions and the earnings come out tax free. Qualified education expenses include tuition and fees, books, supplies and equipment, room and board, and special needs services.

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