IRA Accounts

Start Saving for the Future.

With a tax-deferred* Individual Retirement Account (IRA account), you can save for the future and earn a competitive dividend rate without increasing your current tax obligation. And the best news is that funds in an IRA plan are insured up to $250,000 by the National Credit Union Administration (NCUA).  

IRA Accumulator Account

  • Variable rates with dividends compounded quarterly 
  • Use Payroll Deduction or Direct Deposit to automatically add funds to your account 

IRA Certificate Account

  • Choose from a variety of certificates with minimum balances beginning at $500 
  • Dividend rates are generally fixed depending on the type of certificate you select

Roth IRA

  • Enjoy expanded after-tax investment opportunities*, such as saving for your first home or for a comfortable retirement

Coverdell Education Savings Account (ESA)

  • Your money grows tax-free* for your children 17 years or younger
  • When you are ready to spend it for college, it's still tax-free

Stop by your local Xceed Financial Center, or call us at 800.XFCU.222 to open your IRA account today!

Please refer to our disclosures for details on accounts, products, and services' terms and conditions, including, but not limited to charges, fees, and waivers. Rates, terms, and conditions are subject to change at any time.

* Not intended as tax advice. Please consult your tax advisor.

Traditional IRA

  • You must have earned income for the year, and be younger than 70½ years.
  • Those who do not participate in a pension plan at work or who do participate and meet certain income guidelines are eligible to make deductible contributions.
  • Contribution limit for 2015, 2016, 2017 and 2018 is $5,500.
  • Those age 50 and older have a catch-up deal; they can contribute an extra $1,000 a year.
  • These limits cover both IRA options. For example, for a $5,500 limit, you can put $3,500 in a Roth IRA and $2,000 in a traditional IRA, or $5,500 in one or the other, but not in both.
  • No penalty for withdrawals beginning at age 59½ or if the member becomes disabled. Distributions are mandatory at age 70 ½.
  • 10% IRS penalty for early withdrawals.* Some exceptions apply.

Roth IRA

  • For 2017, contributions are allowed if Adjusted Gross Income is less than $118,000 (single), less than $10,000 (married, filing separately), and less than $186,000 (married, filing jointly). Contribution amounts phase out between Adjusted Gross Income of $118,000-$133,000 (single), $0-$10,000 (married, filing separately), and $186,000-$196,000 (married, filing jointly).
  • For 2018, contributions are allowed if Adjusted Gross Income is less than $120,000 (single), less than $10,000 (married, filing separately), and less than $189,000 (married, filing jointly). Contribution amounts phase out between Adjusted Gross Income of $120,000-$135,000 (single), $0-$10,000 (married, filing separately), and $189,000-$199,000 (married, filing jointly).
  • Contribution limit for 2015, 2016, 2017 and 2018 is $5,500.
  • Those age 50 and older have a catch-up deal; they can contribute an extra $1,000 a year.
  • These limits cover both IRA options. For example, for a $5,500 limit, you can put $3,500 in a Roth IRA and $2,000 in a traditional IRA, or $5,500 in one or the other, but not in both.
  • At age 59½, earnings may be withdrawn tax free if the funds have been in the account for at least five years.
  • Prior to age 59½, original contributions may be withdrawn without tax penalty or income tax.
  • Qualified "Special Purpose" distributions (of contributions and earnings) are allowed before age 59½ without tax penalty for qualified higher education expenses and for up to $10,000 towards a first time home purchase.

Coverdell ESA

  • Adjusted Gross Income limits are $110,000 (single) and $220,000 (joint). Contribution amounts phase out between Adjusted Gross Income of $95,000-$110,000 (single), $190,000-$220,000 (joint).
  • Beneficiaries must be age 17 or under.
  • Contribute up to $2,000 per beneficiary, per year.
  • Contributions and earnings may only be withdrawn by the beneficiary for qualified education expenses. All funds must be withdrawn by the time the beneficiary reaches 30 years of age.

* Not intended as tax advice. Please consult your tax advisor.