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IRAs

Allegent offers a broad range of products and services to meet the needs of our members. Whether you want to open your first checking account, want to start building credit, are ready to buy your first home, or want to start investing for retirement, we can help you reach your financial goals.

Traditional IRA

The Traditional IRA can be tax deductible. Please consult your tax advisor for more information.

Invest up to $6,000 per year ($7,000 if you’re age 50 and over)
Accumulate income tax-deferred
Withdraw funds, IRS penalty-free, to help finance a higher education or your first home

Roth IRA

Roth IRAs are generally not tax deductible. Please consult your tax advisor for more information.

Invest up to $6,000 per year ($7,000 if you’re age 50 and over)
After five years, contributions earned can be withdrawn, IRS penalty-free, in order to buy a first home or for any purpose after age 59 1/2
Contributions from earned income can be made after 70 1/2. Distributions are not required
Transfer funds from existing IRAs to a new conversion Roth IRA (subject to taxation)