Individual Retirement Accounts | Retirement Savings

With an IRA and a little planning, these can be the best years of your life

Whether you're looking forward to a retirement packed with adventure or one that's a lot more relaxing, an IRA that features tax advantages* and steady earnings can help you live a comfortable lifestyle.

Open your account with as little as $500

Choose a traditional or a Roth individual retirement account (IRA)

No set-up fees or monthly fees

Play "catch-up" with larger annual contributions after age 50

Helpful Tip

Safe, sure, steady growth

Choose a standard IRA savings account, or opt for higher rates and a guaranteed return with an IRA term certificate. Either way, your money is safe: all deposits are insured up to $250,000 by the National Credit Union Administration (NCUA).

Helpful Tip

Safe, sure, steady growth

Open your account with as little as $500

Choose a traditional or a Roth individual retirement account (IRA)

No set-up fees or monthly fees

Play "catch-up" with larger annual contributions after age 50

Traditional or Roth IRA? We can help you decide.

Traditional and Roth IRAs both offer tax advantages. The biggest difference is when you get those advantages.

With a traditional IRA, you save now: Contributions are typically tax deductible, and you defer paying taxes on the earnings until retirement.

With a Roth IRA, you get the savings later: You don’t get any tax advantage when you contribute, but your earnings accumulate tax-free and remain tax-free upon distribution.

Connect with your local branch for more information, or consult with a tax advisor to decide what’s right for you.

Traditional IRAs

Contribute up to $7,500 annually ($8,500 if you're age 50 or over)
Potentially receive an income tax benefit each year you make a contribution
All annual dividends are tax-deferred
Begin taking penalty free withdrawals at age 59 ½ (early withdrawals subject to penalty**)
You must take yearly withdrawals beginning at age 73 Withdrawals are taxed at rates that depend on your current income

Roth IRAs

Contribute up to $7,500 annually ($8,500 if you're age 50 or over)
No tax deductions for contributions, but all annual dividends are tax-deferred
You may withdraw contributed funds funds anytime without penalty
Begin taking penalty-free withdrawals of contributions and dividend earnings at age 59 ½ (early withdrawals subject to penalty**)
All qualified withdrawals are tax-free
No mandatory withdrawals at any age
No age limit on making contributions as long as you have earned income

Resources to help you grow and thrive

Financial Counseling

Credit Builder Loans

*Subject to some conditions. Consult a tax advisor.

**Certain exceptions apply, such as health care, purchasing first home, etc.