Retirement Accounts

Plan for the future and start building your nest egg.

What You Need:

  • $25 minimum initial deposit
  • $25 minimum balance
  • Be a Latino CU member

What You Get:

  • Retirement accounts are federally insured up to $250,000 by NCUA
  • Dividends compounded daily, paid monthly
  • Above average interest rates
  • No maintenance fee
  • Recurring funds transfer available for contributions
  • Access your account on-line and do much more with our electronic services. Click here for more details

The Fine Print

The important details

  • Funds may not be borrowed or used as security for a loan
  • 6% non-deductible Federal excise penalty for excess contributions
  • Regulation D limits certain withdrawals and transfers (including overdraft and automated transfers) to six (6) per calendar month

Learn More

1. Roth IRA 2. Traditional IRA 3. Simplified Employee Pension (SEP)
EligibilityAccount holder or spouse must have earned income. No age limits.Account holder must have earned income. Maximum contributing age limit of 70 ½. Employer completes and signs written agreement by tax return date, providing a copy to the employee. Eligible employees open SEP at institution of choice. Employer determines contribution percentage. No age limit for contributions on behalf of employee.
Maximum Annual ContributionLesser of annual IRS limit or amount based on account holder’s MAGI (Modified Adjusted Gross Income).Lesser of annual IRS limit or 100% of earned income.Cannot exceed 25% of employee’s income up to compensation cap.
DistributionsWithdraw regular contributions tax and penalty-free at any time.May begin at age 59 ½ with no penalty; required to begin at age 70 ½.May begin at age 59 ½ with no penalty; required to begin at age 70 ½.
AdvantagesContributions can be made at any age. Contributions can be withdrawn tax-free at any time. Earnings are tax-free for all qualified withdrawals. No required distributions after retirement.Possible tax deductible contributions. Earnings on contributions grow tax-deferred. May be converted to a Roth IRA pending certain criteria are met.Allows small businesses to provide pension coverage to employees at no administrative cost. Self-employed can provide for own retirement.

We pay you back!

Through higher interest rates and lower fees. Why wait?  Experience the savings that only LCCU can provide.