Retirement Accounts: Traditional and Roth IRAs
We offer a wide variety of Traditional and Roth IRA investments, including IRA Savings and IRA Certificates that ensure guaranteed growth. Plus, we provide the expert guidance and friendly step-by- step assistance that members need to transfer their existing IRAs from other financial institutions or roll over assets from a qualified retirement plan.
- Investment options for both Traditional and Roth IRAs
- IRA Certificates offer guaranteed rate of return on terms from 3 – 60 months
- Catch-up contributions for individuals who attain age 50 before the end of the taxable year
Retirement is in your future. Let us help you get there.
Benefits of IRAs
Our Individual Retirement Accounts (IRAs) allow you to choose from a wide variety of Traditional and Roth IRA investments, including IRA Savings and IRA certificates with benefits like:
- No set up fee
- Low minimum deposit to start saving for retirement
- Convenient payroll deduction or automatic transfer from an account for recurring deposits
- Transfer funds into your IRA online to make a current-year contribution
- Customized automatic withdrawals for Required Minimum Distributions
- Federally insured to $250,000 by the National Credit Union Administration (NCUA)
We offer two different types of IRAs, Traditional and Roth, with different tax benefits.
Account Type | Traditional IRA | Roth IRA |
What is it? | A Traditional IRA allows you to make investments that will grow tax-deferred until you remove money from your account. Your contributions to a Traditional IRA may be tax-deductible depending on your participation in a workplace retirement plan and certain income limitations. Catch-up contributions for qualified individuals. | A Roth IRA allows you to invest money by making nondeductible after-tax contributions that grow tax-free. The key difference between a Roth IRA and a Traditional IRA is that, in a Roth IRA, money is not taxed when withdrawn for qualified distributions. Income limits apply. Consult a tax professional to determine if converting assets from a Traditional IRA will be beneficial for your long-term retirement savings plan. |
Who is it good for? | Individuals who qualify for a current tax deduction or who anticipate being in a lower tax bracket during retirement | Individuals who do not require or qualify for an immediate tax deduction. |
How do earnings accumulate? | Earnings accumulate on a tax-deferred basis. | All earnings accumulate tax-free. |
Rates |
Your tax adviser can offer more guidance on which type of IRA may be best for your needs. Of course, we are always here to answer your questions and assist you with opening an IRA. If you have a question, consult with one of our financial advisors or visit one of our branches to open an account.
Options For Existing IRAs
IRA Rollover
When you terminate employment you can elect to have your employer-sponsored retirement plan rolled over into an individual IRA you control.
IRA Transfer
You may transfer an existing IRA to another similar IRA. This is typically done to seek lower costs and consolidate assets.
We’re here to take your financial confidence to the next level.
Dive into our Learn Center to explore various financial topics or to learn a little more about our practices.
-
Wealth Management
Estimating Your Retirement Income Needs
-
Banking Basics
Get a Smart Start
-
Wealth Management
Approaching Retirement
Terms and Conditions
Programs (including but not limited to fees, rates, and features) are subject to change without notice. After an account is opened, dividend rate and APY may change at California Credit Union’s discretion. Fees may reduce earnings. The credit union does not offer tax advice, please contact a tax advisor.
