Individual Retirement Accounts (IRAs) Central City Credit Union offers three types of Individual Retirement Accounts: Traditional IRA The Traditional IRA is available as a fixed* or variable-rate* term certificate. This option offers tax deductible contributions, and is available to anyone under age 70½ with earned income compensation. Roth IRA The Roth IRA has no age limit, but you must have earned income to contribute. All contributions are nondeductible, and may be withdrawn tax-free. It is only available as a fixed rate term certificate. Coverdell Education Savings Account Contributions to the Education IRA are limited to $2000 per year per chld. This IRA is available as a fixed rate one year term certificate. However, an Education IRA offers you the potential for tax-free withdrawals, including earnings. *Fixed Rate and Variable-Rate Term Certificates Fixed Rate - Guarantee specific dividend rate for the term you select. Minimum deposit of $250 No administration fee Automatic renewal for same term at current rate Dividends compounded at maturity for three month terms Dividends compounded monthly for six month terms Dividends compounded quarterly for 12, 18, 24, 30, 36, 48 and 60 month terms Variable-Rate Term Certificates Start with a minimum deposit of $100. Add to your account at any time with deposits of at least $50 and watch your savings grow. This is a 12 month term. NOTE: Substantial penalty for early withdrawal under either program. See separate disclosure for specific terms and conditions about these accounts. Complete disclosures will be provided at your request or when you open your account and control the terms and conditions of credit union accounts. All information herein provided is subject to change. Central City Credit Union is federally insured by the National Credit Union Administration.