Lifetime goals start with people who put you first
Every journey is different. That’s why we take the time to understand your goals and help you choose the savings options that support your path.
Saving up for life’s biggest goals
Your future is worth planning for. We’ll help you find the right savings strategy so today’s decisions lead the way to tomorrow’s opportunities.
Roth IRA
Just getting started or looking for another way to save? A Roth Individual Retirement Account (IRA) can give you more options as you plan for retirement.
- More flexibility when withdrawing contributions
- Qualified withdrawals may be tax-free
- Contributions aren’t tax-deductible
Traditional IRA
Keep building toward retirement, whether you’re saving alongside a workplace plan or putting a plan of your own in place with a Traditional Individual Retirement Account (IRA).
- Taxes on earnings are generally delayed until withdrawal
- Contributions may be tax-deductible
- Eligible retirement savings can be rolled over
Coverdell Education Savings Account (ESA)
Invest in your child’s future while enjoying potential tax advantages with an Education Savings Account (ESA). ESAs can be used to prepare for everything from elementary and secondary school costs to other higher education expenses, including college tuition.
- Contributions grow tax-free
- Qualified withdrawals can be used for eligible education expenses
- Reduces reliance on student loans later on
Planning with the right people by your side
Saving up for college or retirement isn’t complicated when you’re working with the right partner. At Linden, we take the time to understand what’s important to you and what’s ahead so we can support your path to success.
- Real guidance from people who know your name
- Tools built for your life, not for every life
- Long-term partnership with real people who care about you
I’ve had an account since I was a kid and it has always been a pleasant experience. The staff are always helpful. When I needed to buy a car, I got my loan done the same day!
- Hunter M
- Linden CU Member
Current Savings Rates
| Min. Balance to Earn APY | Rate | APY1 | |
|---|---|---|---|
| Regular Savings | $100.00 | 0.10% | 0.10% |
| Saver’s Sweepstakes | None | 0.25% | 0.25% |
| Youth Savings | None | 0.10% | 0.10% |
| Special Savings | None | 0.10% | 0.10% |
| Christmas Club | None | 0.20% | 0.20% |
| Vacation Club | None | 0.20% | 0.20% |
| Individual Retirement Account (IRA)2 | None | 0.20% | 0.20% |
| Educational Savings Account (ESA)2 | None | 0.20% | 0.20% |
| Checking | $750.00 | 0.00% | 0.00% |
1APY = Annual Percentage Yield.
2 Variable Rate Account. Rate and APY may change each dividend period as determined by the Board of Directors. The APYs listed are prospective rates for the current dividend period.
IRA + ESA questions, answered.
What’s the difference between a Traditional IRA and a Roth IRA?
A Traditional IRA may allow you to deduct contributions from your taxable income, and your earnings grow tax-deferred until retirement. A Roth IRA is funded with after-tax dollars, but qualified withdrawals in retirement are generally tax-free.
Who is eligible to open an IRA?
Most individuals with income can contribute to an IRA, but it’s always a good idea to confirm with the most current IRS eligibility rules and income limits. Eligibility for Roth IRAs and deductible Traditional IRA contributions depends on your income and other factors.
How much can I contribute to an IRA each year?
The amount can change year to year so it’s best to refer to the current IRS annual contribution limits. Something to note is that if you’re age 50 or older, you may also qualify for additional catch-up contributions.
Can I withdraw money from my IRA before retirement?
Yes, but early withdrawals may be subject to taxes and penalties unless an IRS exception applies. Roth IRAs can offer more flexibility with withdrawals before retirement. One of our team members can walk you through all the details if you’re thinking of withdrawing money early.
Who can open a Coverdell ESA?
A parent or legal guardian can open a Coverdell ESA account at Linden. The child (also referred to as the “beneficiary”) must be under the age of 18 or a special needs individual.
What happens if the beneficiary doesn’t use all of the Coverdell ESA funds?
In many cases, the account can be transferred to another eligible family member without tax consequences. It’s best to confirm the current guidance on Coverdell ESA rules and eligibility directly with the IRS.
Wherever you’re starting, we’ll start there with you.
