IRA Accounts

  • Set aside money for retirement
  • Enjoy tax advantages
  • Choose Traditional or Roth IRAs

There's no fountain of youth. This is the next best thing.

Nobody tells you when to wake up. Nobody tells you how to spend your day. When you retire, you're the boss. You do whatever makes you happy. To make the most of those years, you'll need some money stashed away. That's where an Individual Retirement Account comes in. The earlier you start saving, the more you'll have to work with - and to play with.

  • Choose Traditional or Roth IRAs
  • Contribute up to $6,000 a year ($7,000 if over age 50)
  • Earn dividends on deposits
  • With Traditional IRAs, you may be able to take a tax deduction every year you make a contribution
  • With Roth IRAs, all withdrawals are tax-free
  • With both types of IRAs, all annual dividend earnings are tax-free
  • See your financial advisor for more information on the advantages of each type of IRA
  • IRA deposits up to $250,000 are insured by the National Credit Union Administration

Coverdell Education Savings Accounts

College can be expensive. Coverdell accounts can help families save the money needed to cover costs. They're often called "Education IRAs" because they share many of the tax advantages of regular IRAs.

  • Contribute up to $2,000 per year per student
  • Earn dividends on deposits
  • Money can be used to cover higher education costs, as well as private primary and secondary school expenses
  • Any family member - including grandparents, aunts and uncles - can contribute to a student's Coverdell ESA
  • All annual dividends are tax-exempt
  • All withdrawals are tax-free as long as they are used for qualified education expenses. These include tuition, room and board, fees, and educational equipment, such as computers.
  • Consult your financial advisor for more information on Coverdell accounts

UniWyo is a full-service credit union with branches in Cheyenne and Laramie, including on-campus at the University of Wyoming.

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