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Savings & Investments

Save for Today & Invest for Tomorrow

Share Account
Establishes your Credit Union Membership - Minimum deposit $25.00

Share Certificates
Deposit as little as $1,000.00 
Terms 90-day to 60-months 
Competitive rates 

IRA's
Individual Retirement Account
Traditional and Roth*
IRA share account - $25.00 opening deposit
IRA certificate - Deposit as little as $1,000.00
Terms 90-days to 60-months
Competitive rates

*The Traditional IRA
Contributions to a Traditional IRA may or may not be deductible in the tax year made, depending on your income tax filing status, adjusted gross income, and eligibility to participate in a tax-qualified retirement plan on any day in the tax year, the contributions may not be deductible depending on your earnings for the year.  Consult your tax advisor.

Example:  Earnings for the year is $50,000.00 and you put $2,000.00 of it in a IRA, you would pay income tax on $48,000.00.  Additionally your deposit will grow free of tax through the years.  When you finally withdraw the money for your retirement - after age 59 1/2 - the money will be taxed as income at your current tax base.

*The Roth IRA
Unlike a contribution to a Traditional IRA, a Roth IRA contribution is never tax deductible. The advantage of a Roth IRA is that the earnings on contributions are not taxed.  When you withdraw the money from a Roth IRA you will not be taxed on your money or interest earned assuming that the Roth IRA has been open for at least five tax-years and you are older than 59 1/2 when the withdrawal is made.  Consult your tax advisor.

The Roth IRA is available to single filers making up to $95,000.00 and couples making up to $150,000.00.  As long as you follows the rules, you never pay taxes on your gains.

Planning for Retirement
Ideas to help you now, and later.

 


Certificate laddering - a Strategy for the Future

Laddering refers to a simple strategy that allows you to earn the highest available yields and maintain accessibility to portions of your savings.

Begin by investing different amounts in several certificates of different terms.  As each certificate matures, you reinvest in a new certificate with a term equal to the longest term certificate.  This strategy allows you to take advantage of the higher rates normally associated with longer terms while maintaining more frequent access to part of your funds. The Simple Plan to Maximize Your Laddering Strategy

  1. Establish a ladder with 6-month, 12-month, 18-month and 24-month terms;
  2. When the 6-month share certificate matures, reinvest those funds in a new 24-month share certificate;
  3. When the 12-month share certificate matures, re-invest those funds in another new 24-month share certificate;
  4. Repeat the process, and at the end of two years you'll have four, 24-month share certificate with a certificate maturing every six months.

Certificates are 'fixed-term' savings instruments.  This means that in return for agreeing to leave funds in the account for a fixed-term, you'll enjoy the benefit of higher dividend rates.  Withdrawing all or part of your initial investment may result in dividend penalties.

Savings & Investments
Quick tips to help you succeed with your savings & investing plan.


Fort Bragg Community FCU
120 N. Franklin Street
PO Box 1304
Fort Bragg, California 95437
707.964.4966
Fax: 707.964.1781
fbcredit@mcn.org