The road to retirement can be long and winding, the more prepared you are, the better off you’ll be. It’s never too early to take control of your financial future and start saving for retirement. Whether you’re just starting your career or planning with your spouse, your long-term financial wellbeing depends on finding the best savings plan to help you meet your retirement goals.
Retirement starts with NET!
IRA Share Special
6.00% APY*
Annual Percentage Yield
IRA CD Special | 8 Months
4.25% APY*2
Annual Percentage Yield
Benefits of an IRA
- Traditional & Roth IRAs available
- No minimum deposit to open
- Deposits can be made easily by payroll deduction or direct deposit
- Saving for retirement can be easy with NET
Traditional vs. Roth IRA
Traditional IRA
6.00% APY* Special!
- No minimum deposit to open
- Traditional IRAs are tax-deferred, which means you don’t pay federal income taxes until you begin to take withdrawals from the account.
- Contributions may be tax deductible
- To open, members must be under the age of 70½ and have earned compensation
- A 10% early withdrawal penalty tax may apply for withdrawals prior to age 59½
- Withdrawals for special purposes, such as first-time homebuyer costs or higher education expenses, may be permitted prior to retirement.
- Mandatory withdrawals begin when you reach age 70 ½
- IRAs from other institutions may be transferred or rolled over into a NET IRA. Funds from a qualified pension, profit-sharing, 401(k) and SEP may also be rolled over to an IRA.
- Contributions limits apply and may be made until April 15 of each year for the previous year
- Deposits can be made easily by payroll deduction or direct deposit
Roth IRA
6.00% APY* Special!
- No minimum deposit to open
- Contributions are not tax deductible
- Earnings grow tax-deferred
- Members may withdraw contributions tax free and penalty free at any time
- Earnings may be withdrawn tax-free and penalty-free if the account is opened at least 5 years and there is a qualified distribution reason
- There are no required minimum distributions at any age
- Members may contribute to a Roth IRA as long as they want, provided they have earned income.
- Eligibility phase-out ranges apply
- Contributions limits apply and may be made until April 15 of each year for the previous year
- Members must meet Modified Adjusted Gross Income (MAGI) limits
- Deposits can be made easily by payroll deduction or direct deposit
Ready to open an IRA with NET?
Traditional IRAs
Traditional IRAs at NET offer tax-deferred savings.
Setting aside money in an Individual Retirement Account (IRA) can be an ideal way to plan for your future, supplement other retirement savings and meet your long-term financial goals. A traditional IRA at NET Credit Union offers tax-deferred savings. Meaning contributions aren’t taxed until you withdraw funds at retirement. At that time, any money you withdraw will be taxed as income at your ordinary tax rate. A benefit is that many people pay less in taxes on these earnings because they are in a lower tax bracket after retirement. Open an IRA to enjoy a unique tax advantage and NET Credit Union’s competitive dividend rates. There’s no time like today to start saving for your retirement! Speak to your tax advisor to see which IRA might be better for your individual tax situation.
Roth IRAs
Roth IRAs are never tax deductible.
The road to retirement can be long and winding, the more prepared you are, the better off you’ll be. It’s never too early to take control of your financial future and start saving for retirement. Whether you’re just starting your career or planning with your spouse, your long-term financial wellbeing depends on finding the best savings plan to help you meet your retirement goals. A Roth IRA enables you to invest your after-tax dollars and let the earnings grow tax deferred until retirement. Unlike a Traditional IRA, contributions to a Roth IRA are never tax deductible. On the plus side, the money you invest in a Roth IRA can be withdrawn tax-free at any time. If you qualify, you may also be able to withdraw the earnings tax-free. Speak to your tax advisor to see which IRA might be better for your individual tax situation.
Get paid up to 2 Days Early*3 with Direct Deposit!
Enroll in NET’s Direct Deposit and get paid up to 2 days early*3 !
Looking for other savings options?
Savings Account
Whether you’re looking to save for a rainy day or a special occasion, a NET Credit Union savings account can help you meet your financial goals
Vacation & Holiday Clubs
A stress free way to meet your savings goals. Clubs are a great way to keep your budget on track and prevent charging up your credit cards.
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Reach Us
Our headquarters are here in Scranton; but with our ATM network, digital banking and mobile app – we’re conveniently where you need us.
119 Mulberry Street
Scranton, PA 18503
570.961.5300
info@netcreditunion.com
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All IRA products are considered member deposits.
All Savings Products are Variable Rate and subject to change without notice. Current rates here.
NET does not provide tax, legal or accounting advice. This website has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.
*Annual Percentage Yield. All IRA products are considered member deposits. 6% APY is earned based on balances of $1-$10,000. 0.50% APY is earned on balances of $10,000.01 or greater. All IRA products are considered member deposits. All accounts must meet membership eligibility. $5 Membership Fee is required for new accounts opened and must be maintained in order to earn the APY. NET does not provide tax, legal or accounting advice. Consult with your own tax, legal and accounting advisors before engaging in any transactions. NET Credit Union is federally insured by the NCUA. Limited time offer. Promotion ends on 4/30/2025.
*2 Annual Percentage Yield. Rates are for limited time only. $1,000 minimum. Limited to $1,000,000 per social security number. Subject to early withdrawal penalty. We cannot accept orders via email. Must meet membership eligibility requirements. Federally insured. Limited time offer. Rates current as of 2/1/2025. NET does not provide tax, legal or accounting advice. This website has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.
*3 Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date. Subject to change at any time.