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It is never too early to start saving for retirement and at Bellco Federal Credit Union, we offer a variety of retirement accounts to choose from that are designed to fit your specific needs.

An Individual Retirement Account is an excellent tool to save for retirement. Unlike most investments, depending on the type of IRA you choose, contributions may be tax-deductible and will grow either tax-deferred or tax-free.*

Bellco FCU offers Traditional or Roth IRAs, and a Coverdell Education Savings Account, to help you save for both educational and long-term life goals. Whether your ideal future includes play time with the grandkids or relaxing on the fishing pier, a Bellco FCU IRA will get you that much closer. Our accounts offer competitive interest rates that help your money to grow over time and prepare you for your next phase of life!

Either apply through our safeguarded online application or stop by one of our branches in Wyomissing or Sinking Spring, Pennsylvania, to see why Bellco FCU is the credit union people love!



Are you currently a member with Bellco Federal Credit Union?

  • Competitive dividends above standard savings rates
  • Traditional and Roth IRA options
  • No setup fees
  • No monthly or annual maintenance fees
  • Annual contribution limits
  • Additional $1,000 "catch-up" contribution allowed for ages 50+ (as of 2014)
  • Funds can be used to purchase CDs within IRA
  • No minimum deposit to open
  • Attentive, friendly service from start to finish

*Consult your tax advisor.

There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA

  • No income limits to open
  • No contribution requirement
  • Contributions are tax deductible on state and federal income tax*
  • Earnings are tax deferred until withdrawal (when usually in a lower tax bracket)
  • Withdrawals can begin at age 59 ½
  • Early withdrawals are subject to penalty**
  • Mandatory withdrawals at age 70 ½

Roth IRAs

  • Income limits to be eligible to open Roth IRA***
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal*
  • Principal contributions can be withdrawn without penalty*
  • Withdrawals on dividends can begin at age 59 ½
  • Early withdrawals on dividends are subject to penalty**
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income

*Subject to some minimal conditions. Consult a tax advisor.

**Certain exceptions apply, such as healthcare, purchasing first home, etc.

***Consult a tax advisor.

Simplify the transition into college for yourself or your student by establishing a savings account now. A Coverdell Education Savings Account (ESA) provides a tax-free safe place to grow competitive dividends, as well as financial confidence for a new stage of life.

  • Set aside funds for your child's education
  • No setup or annual fee
  • Dividends grow tax-free
  • Withdrawals are tax-free and penalty-free when used for qualified education expenses*
  • Designated beneficiary must be under 18 when contributions are made
  • To contribute to an ESA, certain income limits apply**
  • Contributions are not tax deductible
  • Annual contribution limits per child
  • The money must be withdrawn by the time he/she turns 30***
  • The ESA may be transferred without penalty to another member of the family
  • No minimum deposit to open

*Qualified expenses include tuition and fees, books, supplies, board, etc.

**Certain exceptions apply, such as healthcare, purchasing first home, etc.

***Consult a tax advisor.

Are you currently a member with Bellco Federal Credit Union?