senior couple

Roth IRA Accounts

With a Roth IRA, your contributions are not tax deductible, but your earnings are tax exempt. Minimum balances are $5 for an IRA Share Savings account and $500 for an IRA Share Certificate account. Funds are insured separately from regular savings, up to $250,000 by NCUA, and there are no maintenance fees.


  • Allowed at any age
  • Must be from earned income
  • Funds may remain on deposit past age 70 1/2
  • Limits are set by the IRS and reviewed each year
  • Savers age 50 and over may make catch-up contributions


  • Flexible withdrawal options
  • Contributions may be withdrawn without penalties or tax liability
  • Earnings may be withdrawn after five years if one of the following conditions apply:
    • Qualified higher education expenses
    • First-time home purchase
    • Disability
    • Payment of health insurance premiums while unemployed for 12-weeks or longer
    • Payment to beneficiaries upon owner's death

  Please note: Contribution limits and penalties are governed by federal law. Your tax professional is the best source of information about your individual situation.

How much should you be saving?

Explore our retirement calculators to determine how much you'll need to save in order to retire comfortably.