Our Mission

"To meet our members needs for quality financial services and to provide those services in a professional, convenient and efficient manner while maintaining financial stability."

Horizons IRA's

Horizons helps you retire comfortably.

Horizons offers these types of IRAs:

  • Traditional
  • Roth
  • Coverdell Education Savings Account (ESA)

Investment options include IRA Savings and IRA Certificates. 

IRA Savings Certificates require a minimum balance of $500 to open and terms include, 90 Day, 6-month, 1-year, 2 1/2-year and 5-year. 

IRA Savings Accounts require a minimum $5 balance.

2015 changes: One-Rollover-Per-Year Rule

Beginning in 2015, you can make only one rollover from an IRA to another (or the same) IRA in any 12-month period, regardless of the number of IRAs you. The limit will apply by aggregating all of an individual’s IRAs, including SEP and SIMPLE IRAs as well as traditional and Roth IRAs, effectively treating them as one IRA for purposes of the limit.

Trustee-to-trustee transfers between IRAs are not limited

Rollovers from traditional to Roth IRAs ("conversions") are not limited

IRA distributions rolled over to another (or the same) IRA in 2014 will not prevent a 2015 distribution from being rolled over provided the 2015 distribution is from a different IRA involved in the 2014 rollover.

Beginning in 2015, if you receive a distribution from an IRA of previously untaxed amounts you must include the amounts in gross income if you made an IRA-to-IRA rollover in the preceding 12 months (unless the transition rule above applies), and you may be subject to the 10% early withdrawal tax on the amounts you include in gross income.

Additionally, if you pay the distributed amounts into another (or the same) IRA, the amounts may be treated as an excess contribution, and taxed at 6% per year as long as they remain in the IRA.

This change won’t affect your ability to transfer funds from one IRA trustee directly to another, because this type of transfer isn’t a rollover. The one-rollover-per-year rule applies only to rollovers.