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Individual Retirement Accounts (IRAs)

Individual Retirement Accounts (IRA)

America's Credit Union can provide you with Individual Retirement Account (IRA) options to meet your savings needs. The sooner you start saving and the more you contribute, the better your financial future will become.

ACU offers Traditional IRAs as a Certificate of Deposit (CD) and as a Share Savings Account.

Roth IRA accounts and Coverdell College Savings Accounts are also available. 

All of the ACU IRA accounts pay interest on the funds kept on deposit and are federally insured. Saving for retirement with ACU is one of the most secure, and least risky ways to build your retirement nest egg and/or paying for college.

Traditional IRA

You can contribute to a Traditional IRA if you have earned income and if you have not reached age 70 1/2 by the end of the year.

Traditional IRAs offer tax-deferred earnings and the possibility for tax-deductible contributions. (Consult your tax advisor for complete details).

 

Roth IRA

Roth IRA contributions are allowed at any age as long as the IRA owner has earned income and meets the required Modified Adjusted Gross Income level (visit the IRS.gov website for more information).

Since a Roth IRA is after-tax money, the principal can be withdrawn without a penalty. If dividends remain for 5 years, they become tax-free when withdrawn for qualified reasons such as reaching age 59 1/2, buying a first home, or becoming disabled.

All Roth IRA contributions are nondeductible. There is a maximum contribution limit per year for individuals and for married couples. If you are over the age of 50 you may be eligible to contribute even more. We recommend you speak to a licensed tax professional to determine your max contribution levels.

 

Coverdell Education Savings Account

ACU also offers long-term savings accounts meant to help families plan for large future educational expenses.

Coverdell Education Savings Accounts (ESA) are a trust or custodial account designed to help families pay for education expenses. A Coverdell ESA offers tax-free earnings growth and tax-free withdrawals when the funds are spent on qualified educational expenses.

Coverdells aren't just for college – you can also use your savings to pay for K-12 expenses, and these accounts can offer more investment options and lower fees than 529 plans. Use this application to apply for a Coverdell ESA today.


Use our Retirement Savings Calculator to better determine how much you will need to save each month to fund your retirement.

IRA Certificate of Deposit Rates  

Certificate of Deposit Interest Rate * Annual Percentage Yield (APY)*
TEXT
6 months under $100,000
TEXT
0.35%
TEXT
0.35%
TEXT
6 months $100,000 +
TEXT
0.40%
TEXT
0.40%
TEXT
12 months under $100,000
TEXT
0.65%
TEXT
0.65%
TEXT
12 months $100,000 +
TEXT
0.70%
TEXT
0.70%
TEXT
18 months under $100,000
TEXT
0.65%
TEXT
0.65%
TEXT
18 months $100,000 +
TEXT
0.70%
TEXT
0.70%
TEXT
24 months under $100,000
TEXT
0.90%
TEXT
0.90%
TEXT
24 months $100,000 +
TEXT
1.00%
TEXT
1.00%
TEXT
36 months under $100,000
TEXT
1.10%
TEXT
1.10%
TEXT
36 months $100,000 +
TEXT
1.10%
TEXT
1.10%
Effective October 1, 2019
Certificate of Deposit

6 months under $100,000

Interest Rate *

0.35%

Annual Percentage Yield (APY)*

0.35%

Certificate of Deposit

6 months $100,000 +

Interest Rate *

0.40%

Annual Percentage Yield (APY)*

0.40%

Certificate of Deposit

12 months under $100,000

Interest Rate *

0.65%

Annual Percentage Yield (APY)*

0.65%

Certificate of Deposit

12 months $100,000 +

Interest Rate *

0.70%

Annual Percentage Yield (APY)*

0.70%

Certificate of Deposit

18 months under $100,000

Interest Rate *

0.65%

Annual Percentage Yield (APY)*

0.65%

Certificate of Deposit

18 months $100,000 +

Interest Rate *

0.70%

Annual Percentage Yield (APY)*

0.70%

Certificate of Deposit

24 months under $100,000

Interest Rate *

0.90%

Annual Percentage Yield (APY)*

0.90%

Certificate of Deposit

24 months $100,000 +

Interest Rate *

1.00%

Annual Percentage Yield (APY)*

1.00%

Certificate of Deposit

36 months under $100,000

Interest Rate *

1.10%

Annual Percentage Yield (APY)*

1.10%

Certificate of Deposit

36 months $100,000 +

Interest Rate *

1.10%

Annual Percentage Yield (APY)*

1.10%

Effective October 1, 2019

* Fees could reduce the earnings. Questions? Call 1-800-543-2811.

IRA Savings Account Rates

Account Type Interest Rate* Annual Percentage Yield (APY)* Interest Paid On Amounts
TEXT
IRA Deposit Account
TEXT
0.05%
TEXT
0.05%
TEXT
$200.00 - $9,999.99
TEXT
IRA Deposit Account
TEXT
0.10%
TEXT
0.10%
TEXT
$10,000.00 and above
Effective October 1, 2019
Account Type

IRA Deposit Account

Interest Rate*

0.05%

Annual Percentage Yield (APY)*

0.05%

Interest Paid On Amounts

$200.00 - $9,999.99

Account Type

IRA Deposit Account

Interest Rate*

0.10%

Annual Percentage Yield (APY)*

0.10%

Interest Paid On Amounts

$10,000.00 and above

Effective October 1, 2019

*Fees could reduce earnings. Questions? Call 1-800-543-2811.

IRA Resources

Budget ebook cover and spineBudgeting Your Savings

It’s essential that you have good budgeting habits to increase your savings. Whether you’re budgeting and saving for a one-time event like a wedding, saving for a major life change like having a baby, or getting better at managing daily spending and saving in general, this eBook will help!

Full of budget templates and tips about creating a budget and tricks for sticking to it, this guide is essential for your future saving goals. With some organization and a good plan, you’ll be adding deposits to your Savings Account regularly.

 

Claim Your FREE Copy!


Impact of Taxes in Retirement

The Impact of Taxes in Retirement

A recent Nationwide Retirement Institute survey finds nearly two in five retirees (37 percent) admit they did not consider how taxes would affect their retirement income when planning for retirement.

As a result, they may have lost the opportunity to save an additional six years' worth of income in retirement.

The survey highlights a lack of understanding about The Impact of Taxes in Retirement.

Open an ACU IRA Account Today!