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Consumer Savings & Checking

IRAs & Education Savings

Some savings goals are bigger than others and require a different approach.

The dream of a comfortable retirement or a college education for children or grandchildren are two of the largest savings goals families will plan for in their lifetime. PGCFCU offers IRAs and the Coverdell Education Savings Account as either regular share certificates or variable-rate savings accounts to help families fulfill those dreams.

Traditional IRAs

Traditional IRAs are a conservative and reliable source of income when you retire. Depending on your circumstances, contributions may be partially or fully tax deductible. Earnings and gains are generally not taxed until distributed. You can begin withdrawing at age 59 1/2.

Roth IRAs

Contributions to Roth IRAs are not tax-deductible, but qualified distributions are tax-free if all requirements are met. Income restrictions apply. There is no mandatory distribution age.

Coverdell Education Savings Accounts

Parents, grandparents and legal guardians who want to save money for a child's higher education expenses can open these accounts. Earnings and eligible withdrawals can be taken tax-free.

To open an account, please contact us or stop by a branch and speak to a Member Service Representative today!