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Individual Retirement Accounts
Oak Cliff Christian Federal Credit Union offers two Individual Retirement Accounts (IRAs) to help you save for your retirement. Traditional IRA Tax-deferred savings¹ IRA investment available as IRA shares or certificate of deposit Contributions of up to $5,500 allowed per year by individuals under age 50 and up to $6,500 allowed per year by individuals
According to the IRS, the annual IRA contribution limits for 2023 are $6,500 or your taxable income, whichever is lower. If you are 50 or older by the end of 2023, the contribution limit is $7,500.
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