Ohio Catholic Federal Credit Union

Choose the Investment Tool to Plan Your Future

Let Ohio Catholic FCU help you and your family plan for the future with an investment account.

Ohio Catholic FCU makes it easy to plan for retirement, holidays, vacations, or the house of your dreams with a variety of investment account options. We offer an extensive line of investment tools to start saving and growing your money, including Traditional and Roth IRA accounts, Coverdell Education Savings Accounts, and Share Certificates. Choose the investment account that’s right for you.

Traditional IRA

Traditional IRAs help members to save for retirement in a special account with many special features and benefits. To qualify for a Traditional IRA one must have earned income and not have reached age 70 by the end of the year. Ohio Catholic Traditional IRA benefits include:

Competitive dividend rates
Dividends paid quarterly
Dividends earned are tax deferred until withdrawal
Tax deductible if not an active participant in a retirement plan

Roth IRA

Roth IRAs help members to save for retirement in special accounts similar to Traditional IRAs, but with some added features. To qualify one must have earned income. Funds can be withdrawn without tax penalty if they have been held in the Roth IRA for a minimum of five years and are withdrawn for a “qualified” reason. The earnings are subject to both tax and penalty if withdrawn for “non-qualified” reasons prior to age 59 ½.

Competitive dividend rates
Dividends paid quarterly
Withdraw contributions at any time without tax or penalty fee
Dividends earned are tax-free

Contribution Limits - Traditional & Roth IRAs
Under Age 50	Over Age 50
Tax years 2005-2007: $4,000	Tax years 2006-2007: $5,000
Tax years 2008 & thereafter: $5,000	Tax years 2008 & thereafter: $6,000

Catch-Up Contributions: Tax year 2006 & thereafter: $1,000

Coverdell Education Savings Account

Account that helps members save for their children’s and grandchildren’s higher education. The designated beneficiary (child) must be an individual under the age of 18 unless beneficiary has special needs, and the money must be withdrawn by the time beneficiary reaches 30 years of age.

Competitive dividend rates
Dividends earned are tax free if used for higher education
Contributions can be made until child’s 18th birthday
Funds are transferable within immediate family

* Traditional & Roth IRAs and Coverdell Education Savings Accounts require a $5.00 deposit. Funds deposited into a Traditional or Roth IRA are insured up to $250,000 per account by the NCUA. Funds deposited into a Coverdell Education Savings Account are insured up to $100,000 by the NCUA.