MIDFLORIDA, Your Community Credit Union.

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Invest your money and let it grow responsibly with an IRA Savings or IRA Certificate from MIDFLORIDA. The sooner you start contributing, the more you’ll benefit in the long run.

Make saving for retirement a priority.

One of the easiest ways to save for retirement is by opening an Individual Retirement Account (IRA). An IRA allows you to grow your money while providing you certain tax advantages, including tax-deductible contributions with a Traditional IRA or tax-free withdrawals with a Roth IRA. Once your funds have been placed into an IRA account, you can use them for different investments such as savings accounts or certificates of deposit. You can also use an IRA to set aside funds for your child’s education. Here’s a list of the different types of IRAs we offer that can help you get your financial plan in motion:


The biggest benefit of a Traditional IRA is the ability to deduct your contributions from your income taxes (depending on your income level). Therefore, you’ll be able to enjoy the tax benefits now and your money will grow tax-free. Once you reach the age where you can begin making withdrawals, any distributions you take will be taxed. Penalties may apply for early withdrawals.


With a Roth IRA, your distributions are completely tax-free. Since you are contributing “after-tax” dollars to fund your Roth IRA, you will not have to pay taxes when you begin making withdrawals. This type of IRA is not available for those earning over a certain income level. Penalties may apply for early withdrawals.


The Coverdell Educational IRA allows your money to grow tax-free to cover the cost of qualified higher education expenses. Contributions are limited to a specific amount based on your level of income, and withdrawals will not be taxed as long as the distributions are less than the beneficiary’s education expenses.

Open an IRA

To learn more about retirement planning, contact IRA Support at (863) 616-2100 ext. 1135. Or visit a nearby branch to open an IRA today.