Individual Retirement Savings (IRA)
Flexible options that give you the power to choose how and when you save for retirement.
Traditional or Roth IRA
Federally Insured by NCUA
Certificates of Deposit (CDs)
Share Savings Account
Contributions are tax deductible if you are single, or married and neither spouse is an active participant in a qualified retirement plan, regardless of income. Many retirees find themselves in a lower tax bracket than they were in pre-retirement, so the tax-deferral means the money may be taxed at a lower rate. Penalty-free withdrawals before age 59 for first-time home purchases or to pay for qualified higher education expenses.
You can choose to open either a share savings account or certificate of deposit for this type of IRA.
Earnings grow tax-free on after-tax contributions, and can be withdrawn penalty-free for a first-time home purchase, higher education expense, medical expenses, in the event of your death or permanent disability, or if you are at least 59 ½ years of age. You can choose to open either a share savings account or certificate of deposit for this type of IRA.
Choose how you would like to open your Traditional or Roth IRA:
IRA & Roth IRA Certificate
Additional deposits allowed with $25 minimum; yearly IRS contributions limits.
|Minimum Opening Deposit: $2,500|
|A savings account that gives you flexibility with your money.|
|Fixed Interest Rate: 0.10%|
|Minimum Opening Deposit: $100|
|Minimum Balance to Earn Dividend: $100|
Already a member and want to open another account online?
If you are already a member of Neighborhood CU and you would like to open your new IRA certificate or savings account online, please log into your Online Banking account and look under the Additional Services tab.
Save money for retirement with tax-free growth or on a tax-deferred basis.
Supplement Your 401(k)
You can contribute to both a 401(k) and an IRA for maximum retirement savings.
Choose between IRA account types to best suit your needs and goals.
What's the difference?
Click the "Compare IRA Options" button to see a comparison chart highlighting similarities and differences between the two account types.
Compare IRA options
Frequently Asked Questions
Yes, both the Traditional and Roth IRA account funds opening through Neighborhood Credit Union are federally insured by the National Credit Union Administration (NCUA) up to $250,000.
*APY = Annual Percentage Yield. Certificate of deposit rates effective September 16, 2020. Savings account rates effective February 16, 2021. Please see the certificate Truth-In-Savings Disclosures(Opens in a new Window) for more details.