In addition to building wealth and saving for your retirement, other benefits of having an IRA are tax deductibility and deferral. You may be able to deduct all or part of your annual IRA contribution from your federal income tax return, depending on your participation in other qualifying retirement plans and your income level. Even if you can't deduct your IRA contribution, you can defer paying taxes on the dividends you earn. Traditional IRA dividends won't be taxed until you withdraw them during retirement, when you may be in a lower tax bracket. Roth IRA dividends may be tax free. Be sure to check with your tax advisor for details concerning your situation.

Unlike mutual fund or stock market investments, First Credit Union IRA's are insured up to $250,000 by the NCUA (National Credit Union Administration), an agency of the U.S. Federal Government. If you don’t have an IRA, now is a great time to establish an account, start investing in yourself and still meet the tax-time deadline. First Credit Union offers several IRA choices. To find the account right for you, visit our website today at www.FirstCU.coop.

First Credit Union is a non-profit financial cooperative with 14 branches located throughout Arizona, serving more than 60,000 members with over $500 million in assets. First Credit Union offers a full range of consumer and commercial financial products and services including checking, savings and deposit accounts, youth accounts, a full range of mortgage loan options, as well as commercial services to meet the needs of businesses of all sizes. Providing friendly and personalized service to our members has been our top priority since 1929. We truly are "First in Arizona, First in Service!"  For more information please visit the First Credit Union website at www.FirstCU.coop.