2317 Easton Avenue
Bethlehem, PA 18017-5099

Phone 610-691-0041
Fax 610-691-8624
E-mail service@btcu.org

Click here to return to the BTFCU Home Page.

Convenient Access:

Click here to do your BTFCU banking on the Internet. (Requires registration before using first time.)

Link to the BTFCU Electronic Bill Payment site. (Requires registration before using first time.)

The phone number for Audio Response (Bank-by-Phone) is 1-800-553-0857. Click here for audio response instructions.

Click here to do your VISA card banking on the Internet. (Requires registration before using first time.)

Click here to find ATMs that charge no fees to BTFCU members.

Click here for an online Mortgage Application.

Click here for an online Loan Application.

Click here to see BTFCU's Savings Accounts and Savings Rates. Click here to see BTFCU's Loans and Loan Rates.

Find out how to join Bethlehem Teachers FCU.

Office Hours:

Monday, Tuesday,
Wednesday, Friday:

9:00 a.m. - 5:00 p.m.
Thursday:
9:00 a.m. - 6:00 p.m.

Closing or delay due to weather? Check WFMZ:

Click here to go to Channel 69's Stormcenter Update webpage.
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Your savings are federally insured  to at least $250,000 and backed by the full faith and credit of the United States Government. Click here to learn more about how you are protected by the NCUA.
Serving Members
Since 1935

IRAs


An Individual Retirement Account (IRA) is an excellent tool for retirement savings. Unlike most investments, depending on the type of IRA you choose, contributions may be tax deductible and will grow either tax-deferred or tax-free.

The National Credit Union Administration (NCUA--the Credit Union equivalent to the FDIC) has increased the amount of deposit insurance to $250,000 on Individual Retirement Accounts. Prior to the ruling, Individual Retirement Accounts (IRAs) were insured up to $100,000. With the increased insurance protection, depositors do not have the inconvenience of finding an alternate institution to deposit funds that have grown in excess of $100,000. This new ruling applies to Traditional and Roth IRAs. Americans are expected to live longer and as a result will need a larger nest egg on which to rely for their retirement years. Now, members can feel secure as they build their retirement accounts. In the event that an IRA balance surpasses $100,000, members can feel comfortable knowing that an IRA is covered up to $250,000 here at the Credit Union. Please note that insurance coverage on standard share account deposits remains at $100,000. For more information on this ruling, please refer to the NCUA release on this new ruling at http://www.ncua.gov/news/press_releases/2006/NR06-0320.htm

The annual contribution limit for the tax year 2006 is $3,000 for individuals or $6,000 split between spouses.

BTFCU offers these types of Individual Retirement Accounts...

The accounts are FREE - we don't charge any fees to open or maintain your IRA. More importantly, we offer competitive, generous dividends. Also, learn about "Catch-Up" Contributions under the new tax laws!


Traditional IRAs

The annual contribution limit increased to $4,000 in 2005 and will jump to $5,000 in 2008. After 2008, the contribution limit will be adjusted annually for inflation in $500 increments. The annual limit applies to any combination of IRA plans other than the ESA.

Contributions are fully tax deductible if you are not an active participant in an employer retirement plan. Otherwise, phaseout rules apply. Investments grow on a tax-deferred basis. Earnings are taxed only upon withdrawal.

BTFCU offers Traditional IRAs as Share (Savings) Accounts and as Certificates (CDs). The difference: An IRA share is a savings account to which you can contribute small amounts at any time (subject to IRS regulations as to the total amount you can contribute and keep sheltered from taxes in any given tax year). Certificates (or CDs) have a higher yield but they must be purchased in increments of $500 or more. Certificates expire 12, 24 or 36 months after purchase and must be rolled over into new certificates. Unless you decide to put the money into another instrument, the certificate will automatically roll over into a similar certificate at the new rate. Share accounts are ongoing and do not require rollover. (Return to top...)

Roth IRA

As long as you have earned income, you can establish and contribute to a Roth IRA even after age 70 1/2. While contributions are not tax deductible, contributions and earnings can be withdrawn tax-free, and unlike traditional IRAs, you are not required to begin taking required minimum distributions after reaching age 70 1/2. By converting your traditional IRA to a Roth IRA, you can enjoy tax-free withdrawals. However, the amount you convert is subject to income tax now. (Return to top...)

Education Savings Account

Education IRAs have a new name: Coverdell Education Savings Plan. (Education "IRA" was a misnomer, since the "R" stood for "retirement" and Education accounts are not "retirement" accounts.)

ESA's allow you to put away up to $2,000 per beneficiary for higher education expenses, earning interest tax-free. (For taxable years prior to 2002, the annual contribution was only $500 per beneficiary.)

While there is no tax deduction for amounts contributed to an ESA, earnings grow tax-free. Your ESA can be used to pay qualified elementary school and secondary school expenses as well as those for higher education. (This was new in 2002.) (Return to top...)

Catch-up Contributions

Individuals who have reached age 50 by the end of the year will be able to make additional catch-up contributions of $1,000 per year to their traditional or Roth IRA.

Speak with one of our Member Service Representatives and start planning for your retirement.

For current rates on our IRA accounts, click here. (Return to top...)

Federally Insured

Bethlehem Teachers Federal Credit Union is governed by the National Credit Union Administration (NCUA), a U.S. Government Agency. It is the credit union equivalent of commercial banks' Federal Deposit Insurance Corporation (FDIC). The NCUA, through its insurance fund (NCUSIF) protects your IRAs up to $250,000 against loss due to the failure of a federally-insured credit union for any reason. (Return to top...)

     

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Last Updated: 9/24/2014 10:30:55 AM Eastern Time