Individual Retirement Accounts (IRA)

Parkview Community Federal Credit Union offers variety of IRA products that will help make your retirement dreams come true.

  • No minimum balance required for the Traditional IRA
  • No monthly fees
  • Contributions may be made in “lump sums” or throughmultiple deposits to the IRA Share throughout the year
  • Dividends are paid quarterly
  • IRA Share Certificates are also available with a minimum deposit of $1,000 and terms of 6, 12, 18 and 36 months.
  • For current IRA and IRA Share Certificate rates, check out our Rate Board
  • To compare IRA features, check out this Quick Comparison Chart

Traditional IRA

A Traditional IRA offers tax-deferred earnings and the possibility for tax-deductible contributions. All earnings in the traditional IRA are tax-free until they are withdrawn. Deferring taxes on the earnings and withdrawing in a year when you may be lower tax bracket can mean more after-tax dollars for your retirement.

Conduit IRA

Retiring or changing jobs? Planning on directly rolling over your qualified pension plan into an IRA? If an IRA is composed entirely of one or more rollovers from a qualified pension plan, it may, at a later date, be rolled back into a qualified pension plan. You can do this with our Conduit IRA. You can open a Conduit IRA with a zero balance and we will handle the Direct Rollover request from your employer.

Roth IRA

The Roth IRA is an account that features tax-free withdrawals for certain distribution reasons after a five-year holding period. Since Roth IRA contributions are non-deductible and taxed in the year they are earned, members who expect to be in a higher tax bracket when they retire may benefit more from a Roth IRA than from a traditional IRA. Unlike the Traditional IRA, there is no requirement to begin taking distributions at age 70 ½.

Coverdell ESA

The Coverdell ESA is an account that features tax-free withdrawals for higher education expenses such as tuition, fees, books, supplies, equipment, and in some cases, room, board and computers. Unlike Traditional IRAs, your contributions to a Coverdell ESA are never tax-deductible; however, distributions are penalty-free and tax-free when used for qualified higher education expenses for a child under the age of 30.

IRA Share Certificates

Earn higher dividends with an IRA Share Certificate. IRA Share Certificates* are available with a minimum deposit of $1,000. Higher yields are available for larger deposits and longer terms.

*IRA Share Certificates subject to PCFCU penalties upon early withdrawal. Please see PCFCU Truth in Savings Disclosure for details.

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