DuTrac members over the age of 18 are qualified to open a traditional IRA if they have qualified earned compensation (wages, salaries, tips, or bonuses) during the year, and/or they are filing a joint income tax return with a spouse who has earned income compensation during the same year.

• Contributions may be tax deductible
• Dividends are paid quarterly
• No minimum deposit amount required for a regular IRA, $1000 minimum deposit required for an IRA Certificate of Deposit
• Withdrawals are allowed at any time, however any deductible contributions may be taxable and typically subject to penalties if withdrawn before age 59 1/2
• Required minimum distributions start at age 73

Please check with a tax advisor for your specific situation.

DuTrac members over the age of 18 are qualified to open a Roth IRA if they have qualified earned compensation (wages, salaries, tips, or bonuses) during the year, and/or they are filing a joint income tax return with a spouse who has earned income compensation during the same year. Income limits do apply.

• Contributions to a Roth IRA are not tax deductible
• Earnings grow tax free
• No minimum deposit amount required
• No required minimum distribution requirements
• No requirement to withdraw at any age
• Contributions can be withdrawn at any time with withdrawal of earnings tax and penalty free for a qualified reason

Please check with a tax advisor for your specific situation.

First Community Trust also offer products and services to help grow your money.

The products offered by First Community Trust: are not federally insured; are not obligations of DuTrac Community Credit Union; are not guaranteed by DuTrac Community Credit Union, involve investment risks, including the possible loss of principal; and if applicable, are being offered by an employee who services both functions of accepting members’ deposits and the selling of non-deposit investment products.