Individual retirement accounts (IRAs)

With a Traditional or Roth IRA, you can build your retirement today. Connect with us to learn about options to help you meet your goals.
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IRA Certificate rates as high as 4.50% APY

TRADITIONAL IRA

For those looking for a long-term investment that may score tax benefits today

Tax-deductible contributions possible

As you invest in tomorrow, your contributions may be able to avoid taxes today (up to IRS limits).

Pay taxes when you withdraw funds

Your earnings grow tax-deferred until you take withdrawals at retirement. Early withdrawal penalties may apply.*

Open as Savings or Certificate

Whether Traditional or Roth, IRA Savings and IRA Certificate options are available. 

Minimum opening deposit, IRA Savings
$25
Minimum opening deposit, IRA Certificate
$500
Contributions may be tax deductible
Yes
Tax-free distributions when requirements met
No
Penalties may apply for early withdrawals
Yes
Required minimum distributions (RMD)
Yes, at age 73
Monthly service fees
None

ROTH IRA

For planners considering tax-free withdrawals in retirement

After-tax contributions

But you may avoid taxes on the earnings that grow over time. 

No taxes on qualified withdrawals

Reap the benefits at retirement when you meet requirements for tax-free withdrawals.*

Add to your IRA with ease

Contribute to any Numerica IRA using payroll deduction, direct deposit, or automatic transfer (up to IRS limits). 

Minimum opening deposit, IRA Savings
$25
Minimum opening deposit, IRA Certificate
$500
Contributions may be tax deductible
No
Tax-free distributions when requirements met
Yes
Penalties may apply for early withdrawals
Yes
Required minimum distributions (RMD)
No
Monthly service fees
None

What's the right type of savings account for you?

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Certificates1 and IRA Certificates2

Product APY
3- to 5-month

0.25%
6- to 11-month

0.40%
12- to 17-month

4.25%

17-month promotional3

4.50%
18- to 23-month

4.00%
24- to 35-month

4.00%
36- to 47-month

4.00%
48- to 59-month

4.44%
60- to 72-month

4.00%

Rates accurate as of 10/28/2024

1

APY = Annual Percentage Yield. Rates effective as of 10/28/2024 and are subject to change. Fees may reduce earnings. $1,000 minimum balance requirement to open most Certificates. The APY is based on an assumption that dividends will remain in the account until maturity. Early withdrawal penalties may apply.

2

APY = Annual Percentage Yield. Rates effective as of 10/28/2024. Fees may reduce earnings. Early withdrawal taxes and penalties may apply. $500 minimum balance requirement to open most IRA Certificates. The APY is based on an assumption that dividends will remain in the account until maturity. Information contained on this website does not constitute legal or tax advice. Individuals should consult with their financial adviser and/or attorney.

3

APY = Annual Percentage Yield. Rates effective as of 10/28/2024. Fees may reduce earnings. $25,000 new money balance requirement to open. The APY is based on an assumption that dividends will remain in the account until maturity. Early withdrawal penalties may apply.

IRA Savings1

Amount APY
$0.01 to $4,999.99

0.05%
$5,000 to $9,999.99

0.05%
$10,000 to $24,999.99

0.10%
$25,000 to $49,999.99

0.10%
$50,000 to $74,999.99

0.15%
$75,000 to $99,999.99

0.15%
$100,000+

0.20%

Rates accurate as of 10/28/2024

1

APY = Annual Percentage Yield. Rates effective as of 10/28/2024 and are subject to change after account opening. Fees may reduce earnings.  Earn 0.05% APY on the first $9,999.99, 0.10% APY APY on balances $10,000 to $49,999.99, 0.15% APY on balances $50,000 to $99,999.99, and 0.20% APY on balances $100,000 and above. The minimum opening deposit required for this account is $25. Information contained on this website does not constitute legal or tax advice.  Individuals should consult with their financial adviser and/or attorney.

FREQUENTLY
ASKED QUESTIONS

CAN I HAVE BOTH A ROTH IRA AND A TRADITIONAL IRA?

Yes. You can open and contribute to both types of IRAs so long as you’re eligible. Each year, your total contribution between both IRAs cannot exceed IRS limits.

HOW IS AN IRA DIFFERENT THAN A 401(K)?

While both are tax-advantaged options for saving for your retirement, you can only invest in a 401(k) if your employer offers it. But any eligible individual can open an IRA at a financial institution or brokerage. 

HOW IS AN IRA SAVINGS ACCOUNT DIFFERENT THAN AN IRA INVESTMENT ACCOUNT?

At Numerica, you can open low-risk IRA Savings and IRA Certificate accounts that are insured by NCUA. 

IRA investment accounts, on the other hand, allow you to invest in securities like mutual funds, annuities, stocks, and bonds. These accounts are not insured and allow your money to fluctuate up or down with the market. 

If you’re interested in an investment account, good news! Numerica members can meet for free with an experienced Numerica Financial Services professional. There is no pressure or obligation.

This content has been provided for educational purposes only and is not intended to replace the advice of a tax accountant, attorney, financial adviser, or loan representative. Information contained on this website does not constitute legal or tax advice. Any examples provided are for illustration only and may not apply to your situation. Since every situation is different, we recommend consulting with a trusted professional adviser regarding your specific needs. 

*

Early withdrawal taxes and penalties may apply. Consult with your tax adviser and/or attorney for complete information, including annual contribution limits and age requirements.

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