Deposit Insurance
There are many financial institutions where you can save your money. In choosing, however, you should ask yourself, "Is my money safe?". It is with First Ohio Credit Union, because all of our accounts are federally insured by the NCUA. The NCUA is an agency of the Federal Government which insures the safety of your accounts with us. As a member of NCUA, we operate under strict federal and state banking regulations and are regularly monitored to ensure that we always serve our members' best interest.

No member has ever lost a single dollar of NCUA protected money. That's why this symbol is your guarantee of safety.

Individual Retirement Arrangement
One of the best retirement planning tools ever created by Congress is an Individual Retirement Arrangement (IRA). It may be able to cut your tax bill as well. You have until April 15th to make contributions to your IRA for the preceding year.

An IRA allows you to contribute 100% of your earnings each year, up to that specific year's limit. Your entire contribution may be tax deductible, depending on the type of IRA you choose.

Traditional IRA
This IRA allows a deductible deposit of up to $3,000 for 2004, $4,000 for years 2005-2007, $5,000 for years 2008 and beyond for those who qualify and the earnings are tax-deferred until time of withdrawal. Penalty-free withdrawals are allowed for education and first-time home buyers.

ROTH IRA
This IRA account allows up to $3,000 for 2004, $4,000 for years 2005-2007, $5,000 for years 2008 and beyond. Non-deductible deposits with all earnings free of federal income tax if the money saved is on deposit for five years or more. Another feature of this account permits funds to be withdrawn penalty-free for qualified education expenses and can be both penalty-free and tax-free for first-time home purchases up to $10,000.

Coverdell Education Savings Account (ESA)
This nondeductible IRA allows contributions up to $2,000 per year/per child annually for the benefit of a child's education. Earnings will be tax-free for qualified education expenses.

Catch-up Contributions
If you are 50 years or older before the close of the taxable year, you may contribute additional amounts to your Traditional or ROTH IRA. For years 2004-2005, $500, for years 2006 and beyond, $1,000.

Find out more about a Credit Union IRA. See one of our Financial Services Representatives. They will be happy to explain how an IRA may benefit you. 

Roth IRA's and Coverdell Educational Savings Accounts are provided through our financial consultants and may not be insured.

For Everyone
A $2,000 No Cost Accidental Death and Dismemberment Policy is provided by the Credit Union upon receipt of a completed application. Additional coverage is available for an additional cost.