Start saving with a Roth IRA
Benefits of a Roth IRA
Roth IRAs can be the ideal retirement savings option if you have earned income or are filing with a spouse who has earned income.
- Contribute now, save on taxes later
- Begin making tax-free withdrawals after the age of 59 ½ if your account is at least five years old
- No mandatory withdrawals required at any age
To open a Roth IRA, please contact us at 800.UCU.4510 or visit one of our advisory centers.
IRA Certificate Account Rates
Our IRA Certificate Accounts offer various terms and competitive dividend rates for UCU member-owners. Penalty may be imposed for early withdrawal. Fees may reduce earnings.
| Account Type | Minimum Balance To Earn Dividends | Dividend Rate | Annual Percentage Yield (APY*) |
|---|---|---|---|
| 6-Month | $500 | 1.687% | 1.700% |
| 12-Month | $500 | 1.884% | 1.900% |
| 24-Month | $500 | 1.638% | 1.650% |
| 36-Month | $500 | 1.638% | 1.650% |
Dividends
Frequently asked questions
- How do I open a Roth IRA account? Click On How do I open a Roth IRA account?
Opening a Roth IRA is easy. If you’re a University Credit Union member-owner, send a secure message through digital banking, book an appointment easily online, or by call us at 424.320.4688 to open your Roth IRA account.
- How much can I contribute to my Roth IRA? Click On How much can I contribute to my Roth IRA?
The amount you can contribute to any type of IRA varies with your age. If you are over 50, you can contribute additional funds as a “catch-up” contribution. Note that you cannot contribute more than your annual earned income.
- Why is it called a “Roth IRA”? Click On Why is it called a “Roth IRA”?
The Roth IRA is named after William Victor Roth Jr. (July 22, 1921 – December 13, 2003). A U.S. Senator from Delaware, Roth sponsored legislation that led to an important tax relief act.
- What’s the difference between a Roth IRA and a 401(k)? Click On What’s the difference between a Roth IRA and a 401(k)?
The biggest difference between Roth IRAs and 401(k)s is that you contribute pre-tax dollars to a 401(k) and after-tax dollars to a Roth IRA. Learn more about individual retirement account differences by connecting with our certified financial experts.
- Can I withdraw from my Roth IRA early without penalties? Click On Can I withdraw from my Roth IRA early without penalties?
Under special circumstances, you can withdraw funds from your Roth IRA before age 59 ½ without paying standard penalties. These include disability, death, IRS Levy, qualified disaster, qualified education, or up to $5,000 for childbirth or adoption.
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