Individual Retirement Accounts from Your M1

Save for your retirement or start an education fund for the important students in your life.  With Individual Retirement Accounts (IRAs) from Your M1, you know you have the options you need from your trusted credit union.  Your M1 also offers M1's Easy IRA Rollover Services!

Call us or stop in and ask to speak to an IRA Specialist about one of our IRA saving options. 

Traditional IRA
A Traditional IRA is a vehicle for creating a retirement fund with the benefit of deferred taxation. Typically, current taxes are reduced by creating a deduction equal to the amount of the contribution. The long-term benefit is to reduce the taxes paid on the contribution and earnings by withdrawing the funds at a time when the member has a lower tax rate.

Roth IRA
Like a Traditional IRA, the Roth IRA offers members a way to set aside funds for retirement. However, contributions to a Roth IRA are not tax deductible. The benefit of a Roth IRA is the member’s investment earnings may be withdrawn  tax free if all the required conditions are met. 

Coverdell Education Savings Account
The Coverdell Education Savings Account provides incentive for parents and students to save for education. Contributions are not tax deductible. Earnings on contributions will be distributed tax free, provided that they are used to pay the beneficiary’s elementary or secondary school or college education expenses, such as tuition, books and fees at an eligible educational institution.