Individual Retirement Accounts (IRAs)

• Tax-advantaged retirement savings¹
• Competitive dividends above standard savings rates 
• Traditional and Roth IRA options 
• No setup fees 
• No monthly or annual maintenance fees 
• Annual contribution limits apply (see current contribution limits; $6,000 as of 2021) 
• Additional $1,000 "catch-up" contribution allowed for ages 50+ 
• Funds can be used to purchase CDs within IRA
• NCUA insured up to $250,000 
• $5 minimum deposit to open

IRA Share

• Minimum to open $5
• Minimum to earn dividends $5
• No annual administration fee
• Allows contributions throughout the year through payroll deduction

IRA Certificate

• Minimum to open $500
• Minimum to earn dividends $500
• No annual administration fee
• Allows contributions on renewal date only
• Certificate terms from 6 months to 5 years
• Jumbo Certificates available

See what your share insurance is with the Share Insurance Estimator — and calculate your earnings with our financial calculators.

IRA share vs. IRA certificate explained

The IRA share account is the IRA itself. However, once the funds are in your IRA, you may choose to invest it in an IRA Certificate (fixed rate over the term, but rate could change at renewal) to earn a higher rate. All deposits and withdrawals will be run via the IRA share account. 

¹Consult a tax advisor. 

There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA 

• No income limits to open 
• No minimum contribution requirement 
• Contributions are tax deductible on state and federal income tax² 
• Earnings are tax deferred until withdrawal (when usually in lower tax bracket) 
• Withdrawals can begin at age 59½ 
• Early withdrawals subject to penalty³ 
• Mandatory withdrawals at age 72   

Roth IRA 

• Income limits to be eligible to open Roth IRA¹ 
• Contributions are NOT tax deductible 
• Earnings are 100% tax free at withdrawal² 
• Principal contributions can be withdrawn without penalty² 
• Withdrawals on interest can begin at age 59½ 
• Early withdrawals on interest subject to penalty³ 
• No mandatory distribution age 
• No age limit on making contributions as long as you have earned income

¹Consult a tax advisor. 

²Subject to some minimal conditions. Consult a tax advisor. 

³Certain exceptions apply, such as healthcare, purchasing first home, etc.