Investments & Retirement


Individual Retirement Accounts

It's never too soon to think about retirement, and a JM Associates Federal Credit Union IRA (Individual Retirement Account) is one of the easiest ways to save for your retirement years. We offer both Traditional and Roth IRAs and we pay competitive dividends on each. Payroll deduction can make saving for retirement even easier. Our IRAs offer various tax advantages, as allowed by law. So, check with your tax advisor to determine which one is for you.

Not only will you have the security of knowing that you are saving toward a comfortable retirement, but you may reap tax benefits as well.

IRA

Traditional IRA

On our Traditional IRA, JM Associates Federal Credit Union pays a competitive dividend, compounded daily and paid montly, based on the average daily balance in the account. You may choose from a Traditional IRA saving account, IRA Term Share Certificates with a variety of maturities or a combination of these. See the rates page on this web site for the current dividend rates.

Contributions of up to $5,500 per year may be made to a traditional IRA, and in many cases this contribution is tax deductible (consult your tax advisor). Earnings in this account are tax-deferred until withdrawn after age 59½. Penalty-free withdrawals can be made for qualified reasons such as qualified education expenses, first-time home purchase, at age 59 ½, if you become disabled, etc.

IRA accounts are separately insured for up to $250,000.

Call 800-581-2256 today to get started saving for your future

Roth IRA

JMAFCU Roth IRAs pay a competitive dividend, compounded daily and paid monthly, based on the average daily balance in the account. See the rates page on this web site for current dividend rate.

Contributions of up to $5,500 per year may be made to a Roth IRA, depending upon income level. Although contributions are not tax deductible for the year in which they are made, the Roth IRA offers other advantages. For instance, contributions can be withdrawn tax- and penalty-free at anytime. Also, the earnings in the Roth IRA account are not taxable provided the account has been open for five tax years and the withdrawal is for a qualified reason (i.e. after age 59 ½ , first-time home purchase, owner becomes disabled, etc.).

IRA accounts are separately insured for up to $250,000.

Call Call 800-581-2256 today to get started saving for your future.


Trust Services

People often associate trust funds only with the wealthy. But a trust fund can actually be an effective financial tool for many people in many circumstances.

JM Associates Federal Credit Union’s Trust Services, offered through MEMBERS Trust Company, can help you protect your assets and your family.

A trust is a separate legal entity that holds property or assets of some kind, such as cash, investments, real estate or a business for the benefit of a specific person, group of people or organization known as the beneficiary or beneficiaries. The person creating a trust appoints a trustee, who holds the account and manages the property according to the written wishes of the person who sets up the trust.

We can assist you with several different trust options, living, testamentary, revocable and non-revocable, charitable remainder, bypass and credit shelter as well as escrow accounts and investment management agency accounts.

We can also act as a corporate fiduciary or make decisions on your behalf, execute the terms of your trust agreement and provide professional investment management.

You may want to appoint a corporate fiduciary if you need help with money management, you want to simplify your life and have someone else take care of the details, you become incapacitated, you want someone to control your money after your death or you want to avoid excessive estate taxes or probate.

Whether it makes sense to use trust services depends on your individual circumstances. Some common reasons for seeking trust services are:

  • To provide for minor children or family members who lack financial experience or who are unable to manage their assets.
  • To provide for management of your assets should you become unable to oversee them yourself.
  • To avoid probate and transfer your assets immediately to your beneficiaries upon death
  • To reduce estate taxes or provide liquid assets to help pay for them.

For more details, contact: JMAFCU Trust Officer Tamara Kidd - (813) 631-9191 ext. 717