UPS Employees FCU offers several different methods of savings for your retirement. These include the Traditional IRA Certificate, Roth Certificate IRA, and Educational IRA. (click here for rates)

The Traditional IRA Certificate requires a $1000 minimum opening balance. These certificates carry terms from One year to Three years as well as a Five year term with a minimum opening balance of $5000. The credit union also offers the option of adding to this certificate once per term. This feature allows our members to lock in the rate of return for a longer period while allowing annual contributions without opening a new certificate. The Traditional Certificate allows you to defer taxes on your earnings until they are withdrawn. Also certain contributions may be tax deductible in the year that they are made. (click here for rates)

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 nondeductible 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 that from a traditional IRA. Unlike the Traditional IRA, there is no requirement to begin taking distributions at age 70 ½ and all earnings are tax exempt. (click here for rates)

The Educational IRA s an account that features tax-free withdrawals for a child's higher education expenses. Contributions are nondeductible, therefore unlike the Traditional IRA, distributions from an Educational IRA are penalty free and tax-free. (click here for rates)

You should consult with a tax advisor before deciding which of these IRAs are right for you.