senior couple

Traditional IRA Accounts

Grow your earnings tax deferred until withdrawn. Share and Certificate IRAs allow qualified participants to defer taxes on earned income. 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. Please consult your tax professional about your specific situation.


  • May be tax deductible (IRS income limits apply)
  • Limits are set by the IRS and are subject to change
  • Must be from earned compensation
  • Allowed up to age 70 1/2
  • Savers age 50 and over may make "catch up" contributions.


  • May begin at age 59 1/2 and must begin by age 70 1/2
  • Early withdrawal penalties apply
  • Penalties may be waived for qualified reasons, including:
    • 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 professional tax advisor is the best source of information for your specific 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.