IRA Savings
Rates as high as
4.00%
APY*
 
Save Today for a Better Tomorrow
 
An individual retirement account (IRA) is a tax-advantaged investment account designed to help you save toward retirement. IRAs are one of the most effective ways to save and invest for the future. ECCU offers options to fit your investment goals, whether you have a retirement plan from a current or former employer, or if you're self-funding your retirement savings. IRAs are insured by (Opens in a new Window)NCUA and can be the perfect account to balance out your investment portfolio.
 

Couple Dancing


Traditional IRA
 
  • Investments are pre-tax income, allowing you tax-deferred growth
  • A great option if you expect to be at a lower tax rate when you will make withdrawals
  • Contribute at any age
  • You can choose between an IRA Savings or IRA CD Account
  • Distributions in retirement are taxed as ordinary income
  • If you make withdrawals before you are 59 1/2, you might have to pay taxes on your earnings, plus an additional 10% penalty
  • Annual contribution limits allow up to $6500 for those under 50, and up to $7500 for those 50 and older
  • Distributions must start around the time you turn 73








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Roth IRA
 
  • Contributions are made via after-tax income, allowing contributions to grow tax-free, and remain tax-free when withdrawn
  • Contribute at any age
  • You can choose between an IRA Savings or IRA CD Account
  • Contributions may be withdrawn at any time without taxes, but earnings may have penalties if you want to withdraw before age 59 1/2
  • People over 59 1/2 who have led their Roth IRA for at least five years can withdraw contributions and earnings with no tax or penalties
  • Annual contribution limits allow up to $6500 for those under 50, and up to $7500 for those 50 and older
  • There are no required minimum distributions during your lifetime
IRA Savings Rates
IRA Products
APY* Minimum Balance to Open
Minimum Balance to Obtain APY
Roth IRA 3.00% $5 $100
Traditional IRA 3.00% $5
$100

IRA Certificate Account Rates

IRA Products
APY* Minimum Balance to Open
12 Month 4.00% $500
24 Month 3.50% $500
36 Month 3.25% $500
48 Month 3.25% $500
60 Month 3.00% $500
*APY= Annual Percentage Yield. Effective 9/1/2024. Rates are subject to change without notice. View all rates.



Not sure which IRA is the best fit for you?
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