Individuals Retirement Accounts

Save today for a brighter tomorrow

Don’t let finances get in the way of your future fun. Prepare for those golden years now with an IRA with USE Federal Credit Union.
 

Benefits You’ll Love

  • Earn competitive dividends that beat regular savings
  • Choose from Traditional and Roth IRA options
  • Access tax advantages on what you set aside1
  • No setup, monthly, or annual maintenance fees
  • Annual contribution limits apply1
  • An additional $1,100 "catch-up" contribution is allowed for ages 50+
  • Funds can be used to purchase CDs within an IRA
  • No minimum deposit to open an IRA/Share

 

Traditional vs. Roth

There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at the time of retirement.
 

Traditional

  • No income limits to open
  • No minimum contribution requirement
  • Contributions are tax-deductible on state and federal income tax1
  • Earnings are tax-deferred until withdrawal (when usually in a lower tax bracket)
  • Withdrawals can begin at age 59½
  • Early withdrawals are subject to penalty2

Roth

  • Income limits to be eligible to open a Roth IRA3
  • Contributions are NOT tax-deductible
  • Earnings are 100% tax free at withdrawal1
  • Principal contributions can be withdrawn without penalty1
  • Withdrawals on dividends can begin at age 59½
  • Early withdrawals on dividends are subject to penalty2
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income
 



















1Subject to some minimal conditions. Consult a tax advisor.
2Certain exceptions apply, such as healthcare, purchasing a first home, etc.
3Consult a tax advisor.