South Central will be CLOSED for Juneteenth on Thursday, June 19, 2025. We will reopen on Friday, June 20, 2025.
FRAUD ALERT: Debit Card Scam Scammers are targeting members of credit unions, including South Central Credit Union, and posing as Fraud Department representatives to try to steal your information. These scams have been conducted primarily via phone or text, claiming there have been suspicious charges on your account. Do NOT share any part of your debit card number, PIN, or online banking credentials. We will never contact you over phone or via text to ask for your sensitive information. If you receive a suspicious text or call, do not respond. Instead, contact us directly at 517-787-2220 or send us a secure message via our South Central mobile app. Stay vigilant and protect your personal information.
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Yes, you can maintain both types of IRAs at the same time. You can even make contributions to both types of IRAs in the same year. But your contributions to both Roth and traditional IRAs cannot exceed the maximum contribution limit for all IRAs.
There are limits on the amount of income one can make during a given year—and the limits change from year to year. Please visit the IRS website for details.
A Roth IRA is an individual retirement account created by the Taxpayer Relief Act of 1997. Roth IRA accounts are traditionally used as retirement savings accounts. They allow limited contributions to be made throughout the tax year and can be withdrawn within 5 years after establishing the account provided you are aged 59 1/2 or older.
