Individual Retirement Accounts
The best way to prepare for retirement? Start saving as soon as possible, and invest in accounts that offer attractive tax benefits.
CUTX Has The Best IRA Rates in Texas
Make your plan for retirement savings with a high yield, risk free investment.
Wondering how to save for retirement?
Sit back & relax, or set out on new adventures. With the help of an IRA, you can afford to save for your dream retirement.
- Choose Traditional or Roth IRAs
- Open Traditional or Roth IRAs for just $1,000
- Contribute up to $6,000 a year ($7,000 if you're over age 50)
- Accelerate your savings progress by investing in our IRA Certificates of Deposit
- Ask about our Education IRAs - also known as Coverdell Education Savings Accounts - that can help cover college costs
Questions? We can help.
Monday - Friday 9AM - 6PM
and Saturday 10AM - 2PM CST
Talk to an IRA Investment Specialist
972-263-9497
Get a personalized IRA investing consultation.
IRA Rates
*The Annual Percentage Yields (APYs) are accurate as of August 26, 2022 and are subject to change.
We offer the following IRA's:
Educational IRA
Roth/Traditional IRA
IRA Certificate of Deposit
Get a good look at where you are and where you're going next.
Exclusive Benefits Include
Traditional IRA
You could get a tax deduction for every year you contribute to your IRA. Interest and dividend earnings grow tax-deferred.
Roth IRA
Your interest and dividend earnings are tax-deferred, and all qualified withdrawals are tax-free.1
Education ESA
Contribute up to $2,000 a year. Funds can pay for elementary, secondary school and college tuition and other qualified education expenses.
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General Individual Retirement Account FAQs
How do I open an IRA at Credit Union of Texas?
Just make an appointment to visit your nearest CUTX location we'll set you up to save.
How do I make a contribution to my IRA?
There's some paperwork involved with this, so please stop by the nearest CUTX location to make a contribution.
How do I take a distribution from my IRA?
Like contributions, IRA distributions also require forms to be completed. Please stop by the nearest CUTX location to take a distribution.
How many times a year am I required to take a required minimum distribution from my IRA?
Once you reach age 72, the Internal Revenue Service requires a minimum distribution of at least once per year.
What happens to my IRA if I die?
Your IRA funds will be passed to your beneficiaries, so be sure to keep your list of beneficiaries up to date. IRA funds are separate from your membership account and require a separate beneficiary form.
I need more tax information on IRA's
Please click on the link below to go to the government IRS web-page
Why CUTX?
Friendly and attentive staff. Paydays come early and the fact that they care for the little guys is definitely my favorite thing about this bank. Definitely the go-to-spot if you’re interested in growing your financial reach.
Xavier H.
Never a issue always friendly and as you walk in the gentleman at the door greets you with awesome customer service. Always on point.
Mr. C.
I simply love this credit union location. My family has gotten several auto loans and personal loans there. I have been a member for over 30 years and my children have accounts also.
Laretha S.
We're Here To Help
Visit your local branch
We have several locations in DFW and East Texas. Come see us!
*Registration/activation required. Health Discount Savings is not insurance.
1. To withdraw from a Roth IRA, the account must meet the following requirements; minimum 5 year holding period, must be 59 ½ years of age or older, or one of the following exceptions: first-time home purchase, college expenses, and birth or adoption expenses.