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For information about our COVID-19 Financial Assistance program click here.

Individual Retirement Accounts (IRAs)

Eligible for membership?
Looking for a better place for your financial future?

Whether you are saving for retirement or higher education, Police FCU offers an IRA program that can assist you in reaching your life stage financial goals.

· No account opening or maintenance fees

· Great value, including no transfer fees and premium rates

· A wide range of options, including IRA Shares and IRA Share Certificates of Deposit

· An easy-to-follow rollover process, with access to a specialist along the way

Contact Us

The IRS has extended the 2019 IRA contribution deadline to July 15, 2020.

A Police FCU IRA is also a great place to reinvest your 401(k), Qualified Retirement Account, or a rollover1.

Click here to view our current IRA rates.

Please visit the IRS website for current transaction limits.

We currently offer:

· Traditional IRA
– A great option for creating a balanced, long-term savings plans with tax deferred earnings and possible tax-deductible contributions.

· Roth IRA
– More flexibility in the use of your investment. Not tax deductible; however, qualified distributions are tax-free. Consult your tax advisor about maximizing this option.

· SEP (Simplified Employee Pension) IRA 

– Retirement accounts which allow employers to make tax-deductible contributions on behalf of eligible employees. Employees do no pay tax on these contributions, but distributions are taxed-subject to many traditional IRA rules.

· Coverdell Education Savings Accounts 

– Can be used to pay for qualified elementary and secondary education expenses (tuition, fees, books, other supplies, and in some cases, even room and board). Contributions are not tax-deductible; however, a Coverdell ESA offers the potential for tax free withdrawals if used to pay qualified education expenses. In order to get the maximum benefit, be sure to make regular contributions.

Contact a representative today for more details on our IRA products at 301-817-1200.

1. A rollover is when you move the assets in an employer-sponsored retirement plan, such as a 401(k) or 403(b), into an IRA.

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