Estate planning at Arkansas Federal

Yes. Arkansas Federal offers Traditional and Roth IRAs available as IRA savings accounts or IRA share certificates ($1,000 minimum for certificates). Traditional IRAs offer tax-deductible contributions with tax-deferred growth and mandatory withdrawals beginning at age 73. Roth IRAs use after-tax contributions with potential tax-free withdrawals and no mandatory distribution age. IRA deposits are NCUA insured up to $250,000. Contact 800-456-3000 or visit a branch to open an IRA.

Arkansas Federal is open to all Arkansas residents who live or work in the state. Family members of existing members also qualify. Those outside Arkansas may join if employed by one of 700+ partner employers and organizations. Membership is also available through the American Consumer Council (one-time $10 fee covered by the credit union). A one-time $5 share savings deposit establishes lifetime membership that continues even if you move, change jobs, or retire.

Yes, a trust can be named as beneficiary on a Traditional or Roth IRA at Arkansas Federal. However, IRAs cannot be retitled to a trust. Naming a trust as IRA beneficiary can have significant tax implications for distribution timelines and required minimum distributions. Consult a tax advisor before designating a trust as your IRA beneficiary.

Yes, Arkansas Federal accepts both revocable and irrevocable living trusts for deposit accounts including checking, savings, money market, and certificates. Trust accounts must be opened in person at a branch. You will need the full trust agreement or a Certificate of Trust, government-issued photo ID for all trustees, and the trust tax identification number (EIN) or SSN for revocable living trusts. IRA accounts cannot be retitled to a trust but can name a trust as beneficiary.

Essential Checking is a second-chance checking account for members looking to reestablish their checking credibility. It includes the same core features as standard checking: Early Pay (up to 2-day paycheck advance with direct deposit), Cents to Savings, MasterCard debit card with warranty benefits, access to 30,000+ ATMs, online and mobile banking, and Credit IQ credit score monitoring. Essential Checking must be opened in person at a branch.