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Traditional IRA

Traditional IRA Accounts


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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Grow your earnings tax deferred until withdrawn.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 at any age
  • Savers age 50 and over may make “catch up” contributions.


  • May begin at age 59 1/2 and must begin by age 72
  • 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
Open your Traditional IRA account


Join online, then you can open your Traditional IRA account at any branch.


Open an account at any branch.

You can also visit any branch or call our Contact Center at (805) 543-1816.
For additional information, see How to Join »


Contribution limits and penalties are governed by federal law. Your professional tax advisor is the best source of information for your specific situation.

Maximum contributions are set by the federal government. Each year the IRS gathers inflation statistics and updates contribution limits and income limits for the following year. These figures are typically available in late October or November. Penalties for excess contributions apply. Your tax professional is the best source of information about your individual situation. For more information on IRA limits, click here.

Your Money is Safe at SESLOC

Accounts are insured to at least $250,000 by the National Credit Union Administration, a U.S. government agency. 



New to credit unions? Learn more about our philosophy and how your money stays local.

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