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Traditional, Roth & Direct Rollover Individual Retirement Accounts (IRAs) are a smart and secure means of long-term investing for your retirement. Choose from our basic IRA Account or an IRA Share Certificate, or both.
Traditional IRAs
They are available to anyone with earned income and you may contribute up to $5,500 per tax year. If your spouse is employed, he/she can also open an IRA and contribute earned income for the year or $5,500 - whichever is less. Or, you may also open a spousal IRA on his/her behalf with the total contribution of $11,000 for the year, as long as a contribution to either of the accounts is no more than $5,500.
Roth IRAs
Individuals with earned income may contribute up to $5,500 for this nondeductible IRA that features tax-free earnings. If your spouse is also employed, he/she can also open a Roth IRA and contribute up to $5,500. That's a total of $11,000 between the two accounts.
Catch-up Contributions
Individuals age 50 and older may make catch-up contributions of up to $1000 per taxable year to their Traditional and /or Roth IRA.
Direct Rollovers
With a Direct Rollover IRA, your retirement funds move directly from a qualified plan to a Traditional IRA. This will enable you to continue to earn high dividends even after you retire. With Direct Rollover IRA, you can invest in the Basic IRA, the IRA Share Certificates, or both.
Basic IRA
Club Account (Traditional, Roth & Direct Rollover) These rates are set, posted, and compounded monthly by PEFCU's Board of Directors. The advantage of the Basic IRA is that your money is more accessible - not subject to any Credit Union penalties. You also have the choice to transfer your IRA funds to a higher earning IRA Certificate.
IRA Share Certificate (Traditional, Roth & Direct Rollover)
IRA Share Certificate rates are market based and are fixed for the length of the term. This means you'll enjoy the same great return throughout the term of the Certificate. Also, while there are Credit Union and IRS penalties for early withdrawal, the dividends you receive will probably be higher than those of the Basic IRA.
Coverdell Education Savings Account (Formerly Educational IRA)
This is a nondeductible account with tax-free withdrawals for a child's education expenses. You may contribute up to $2,000 per year on behalf of the child less than 18 years of age. All earnings on the account are tax-free provided the money is used for education expenses. This includes tuition, fees, books, supplies and equipment required for the enrollment or attendance at an eligible education institution. Make the Smart Choice - Call us today for a fact filled brochure and application.

The National Credit Union Administration (NCUA) is the federal agency that charters and supervises federal credit unions and insures savings in federal and most state-chartered credit unions across the country through the National Credit Union Share Insurance Fund (NCUSIF), a federal fund backed by the full faith and credit of the United States government. For more information on the NCUA, please visit their website at