Vision One Credit Union

3279 Ramos Circle, Sacramento, CA 95827

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Educational IRA Account:

An Educational IRA account was created as an incentive to help parents and students to help save for higher education costs.

Here are the basic guidelines:

  • Total contributions for the beneficiary cannot exceed $2,000 in any year no matter how many accounts have been established
  • A beneficiary is under the age of 18 or is a special needs beneficiary
  • Contributions are not tax deductible, but the amounts deposited grow tax-free until distributed
  • Distributions are are tax-free provided they are used for qualified education expenses (tuition and fees, required books, and room and board)
  • Insured by the NCUA

*Please contact your tax advisor as restrictions may apply.

Contact us for further details

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