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Retirement Accounts

All that free time. All those bucket-list goals. Life's next chapter can be truly rewarding - as long as you're financially prepared.

A smart way to stretch your retirement income

Chill out in a rocking chair. Or climb a couple Rocky Mountains. When your retirement years arrive, anything goes. A tax-advantaged IRA helps you save the money you need for any lifestyle you choose.

Various ways to get where you want to go

Start early and give your money time to grow. When it comes to saving for retirement, Foothill Credit Union offers that advice to everyone. The big decision is whether to put your funds into a Traditional or Roth IRA. Each offers unique advantages, depending on your current finances, long-term goals and future plans.

Traditional IRA

  • Contribute up to $6,000 a year (up to $7,000 if you're 50 or over)
  • You may be able to take a tax deduction every year that you contribute
  • Your money grows tax-free and annual dividends and interest earnings are untaxed
  • In some cases, you can use IRA funds for higher education and home-buying expenses

Roth IRA

  • Contribute up to $6,000 a year to an IRA (up to $7,000 if you're 50 or over)
  • All withdrawals are tax-free, if you meet certain criteria
  • Your money grows tax-free and annual dividends and interest earnings are untaxed
  • In some cases, you can use IRA funds for higher education and home-buying expenses
Before choosing an IRA, it's best to consult a financial advisor for more in-depth information on IRA benefits and guidelines.

Coverdell Education Savings Account

These accounts are often called Education IRAs because they offer many of the same tax benefits. However, Coverdell funds are designed to help cover education expenses for young people.

  • Maximum contributions of $2,000 per year per student
  • Funds grow tax-free and withdrawals are tax-free if used for qualified educational purposes
  • Eligible expenses can include tuition, fees, books, supplies, equipment, tutoring, special needs services, and computer technology
  • Funds can be used for private elementary and secondary education, as well as college costs

Foothill Credit Union is a full-service credit union with California branches in Arcadia, Covina and Glendora.

Hear What Our Members Are Saying

"I've been a member since I was a kid. I love my Money Market Savings account. And who wouldn't be part of a credit union that gives back to our community and supports our kids."


- Marcella F.

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