It’s not too late to reduce your 2007 taxes! You have until April 15, 2008 to make Traditional IRA contributions for tax year 2007 and reduce your taxable income. You may contribute a total of up to $4,000* to a Traditional and/or Roth IRA for 2007 and $5,000 for 2008*. Stop in to your local First Peoples Federal Credit Union branch and start your IRA today!
Individuals age 50 and over are allowed to make an additional catch-up contribution of $1000 for the 2007 and 2008 tax years. Just a reminder, contributions to Traditional IRAs are tax deductible, meaning you can decrease your taxable income by the amount of your contribution.* Roth IRA contributions are tax-deferred, meaning you do not receive an up-front tax-deduction, but you pay no taxes on contributions or earnings when the funds are withdrawn for a qualified use.*
* Contributions may vary, please consult your tax advisor for details. Please check with your tax advisor regarding deductions, taxable income specifications and what determines a qualified withdrawal.
Saving money just isn't as easy as it used to be. With the variety of options open to you today, you need professional financial advice to make certain that your investment pays off. Our Member Service Representatives can help you select the best alternatives to meet your current and future needs. Listed below are some examples of the products First Peoples offers our members.
Your savings may earn a higher rate of return than similar accounts at the other financial institutions. A $5.00 balance maintains your membership with First Peoples. Your interest is compounded daily, paid monthly with a minimum balance of $100. You may have special accounts such as Christmas, Vacation, Education, or whatever you prefer.
A First Peoples Money Market Account gives you the freedom and flexibility you desire with the access you need. You earn higher dividends without tying up your funds for the long term, and the dividends compound daily. Our Money Market accounts are tiered, so as your balance increases, so will your annual percentage yield!
You may choose from several high-yielding term accounts from 91 days to 60 months. Deposit a minimum of $500 and choose the term and rate best for you. Dividends are compounded daily and paid monthly or quarterly.
Are holiday expenses just too much of a drain on your checkbook? Why not prepare for the holidays with a Holiday or Christmas Club Account? This account is designed to help you meet a specific savings goal for your holiday expenses. You may add to your account regularly with direct deposit or make deposits in person, and it's easy to keep track of your progress as it appears separately on your statement. The funds in your Christmas or Holiday Account will automatically be transferred into your Regular Share (Savings) Account on October 1, of each year. Ask one of our Member Services Representatives about other club accounts (Vacation, Star Saver, and Teen Saver Club) we have to offer our members!
Save money with no set-up or annual service fees! Take advantage of higher-earning certificate rate with just $500, or start your retirement savings with as little as $5 with an IRA share account. Loans are also available for initial investment. In addition to our Traditional IRA, we also have the Roth IRA and Educational Savings Accounts. Click on CU LearningCenter for information on the different IRAs.
You've got a little extra money and you'd like to earn more interest, but you want easy access without penalties. We've got the solution, open a Thrift Savings Account and you'll gain more interest and more flexibility!
The Thrift Savings Account offers you the convenience of a regular savings account while taking advantage of a higher interest rate . A minimum deposit of $500 is required to open. You can withdraw once per quarter without a fee. Great for payroll deduction.
