Arkansas Best Federal Credit Union offers several options for your retirement and education savings needs. An IRA with ABFCU starts with a simple application and we’ll take it from there. The different savings plans that we offer are as follows:
Traditional Individual Retirement Account (IRA)
A Traditional IRA is a tax deferred retirement savings account. This means you don’t pay taxes on the funds until you withdraw your money in retirement. We offer traditional IRAs in both savings and certificate accounts.
Roth Individual Retirement Account (IRA)
A Roth IRA is funded with money that has already been taxed. Since you have already paid taxes on these funds, there are no taxes upon a qualified withdrawal. Roth IRAs are available in both savings and certificate accounts.
Coverdell Education Savings Account (ESA)
A Coverdell ESA is a savings account set up to pay the qualified education expenses of a designated beneficiary. This means you can put away money with tax free interest for education purposes. We offer Coverdell ESAs in savings accounts.
Please Contact us to open your Retirement or Education Account.