Traditional, Roth, & Education IRAs

An IRA is an Individual Retirement Account set up at a financial institution that allows an individual to save for retirement with tax-free growth or on a tax-deferred basis. There are three main types of IRAs: Traditional, Roth, and Education, each with different advantages.

Types of IRAs at CUTX

IRA Accumulator

If you're looking for a safe, non-investment place for your IRA funds, look no further than the IRA Accumulator at CUTX. Available for Traditional, Roth, and Education IRAs, the IRA Accumulator acts like a simple savings account for your IRA funds. Stop by your nearest CUTX location and open yours today with as little as $50.

Find Locations

IRA Certificates of Deposit

Want to give your IRA funds a little extra earnings boost? Consider an IRA Certificate of Deposit. Start your Education IRA CD with as little as $500, or start a Traditional or Roth IRA CD with as little as $1,000. Choose your term, from 6 months to 5 years. Available for Traditional, Roth, and Education IRAs. Stop by a CUTX branch today to open yours.

Find Locations

IRA Accumulator Rates

The Annual Percentage Yields (APYs) are accurate as of March 31, 2020 and are subject to change.

Please select your min balance

$0 +
Dividend Rate APY*
IRA Accumulator .15 .15

IRA CD Rates

The Annual Percentage Yields (APYs) are accurate as of March 31, 2020 and are subject to change.

Please select your min balance

$1,000 - $9,999.99 $10,000 - $24,999.99 $25,000 - $49,999.99 $50,000 - $98,999.99 $99,000 +
Interest Rate APY** Interest Rate APY** Interest Rate APY** Interest Rate APY** Interest Rate APY**
6 Month 1.31 1.32 1.31 1.32 1.31 1.32 1.31 1.32 1.31 1.32
12 Month 1.53 1.54 1.53 1.54 1.53 1.54 1.53 1.54 1.53 1.54
24 Month 1.77 1.78 1.77 1.78 1.77 1.78 1.77 1.78 1.77 1.78
36 Month 1.86 1.88 1.86 1.88 1.86 1.88 1.86 1.88 1.86 1.88
48 Month 1.96 1.98 1.96 1.98 1.96 1.98 1.96 1.98 1.96 1.98
60 Month 2.06 2.08 2.06 2.08 2.06 2.08 2.06 2.08 2.06 2.08

Spend it or Invest it in an IRA?

FAQ - Individual Retirement Accounts

IRA Accumulators and CDs must be opened at a CUTX location.
IRA contributions require some forms to be filled out, so please stop by the nearest CUTX location to make a contribution.
Like contributions, IRA distributions also require forms to be completed. Please stop by the nearest CUTX location to take a distribution.
Once a member reaches the age of 70 and a half, the Internal Revenue Service requires a minimum distribution of at least once per year.
Funds from an IRA are passed to the beneficiary upon the passing of the IRA holder. Be sure to keep your beneficiaries up to date! IRA funds are separate from your membership account and require a separate beneficiary form.

Featured Articles

Tax-Advantageous Things to Do With Your Money

Read Article

Tax-Advantageous Things to Do With Your Money

Many people think of money as linear—it comes in, it goes out. It's associated with immediate need or gratification. Sometimes you save a little. In fact, money is multi-dimensional. It can do more than one task at a time—like create future savings...
Read Article

Saving for the Short and Long Term

Read Article

Saving for the Short and Long Term

One of the most common reasons you save money is to achieve goals — some you'd like to accomplish in the short term, like in the next year or two, or maybe even five. Some you'd like to accomplish in the long term, in the next ten years or even longer
Read Article

Savings vs Investments Balancing Return With Liquidity

Read Article

Savings vs Investments Balancing Return With Liquidity

If you're reading this, you likely have money left over after expenses, and you're wondering what to do with it. Maybe you just got a well-deserved raise, have encountered a windfall, or your efforts to stick to a budget have paid off.
Read Article

*A minimum deposit of $50.00 is required to open an IRA Accumulator account. Rates change monthly and interest is paid monthly.

**With a $1,000 investment, Roth and Traditional term IRAs are available for terms from 6 to 60 months. For a $500 investment, members may purchase an Educational term IRA. The interest rate on an IRA Certificate of Deposit is fixed. A penalty may be imposed for early withdrawals.