Start saving for retirement today.
An Individual Retirement Account (IRA) allows you to save for retirement with tax-free growth or on a tax-deferred basis. While there are a variety of types of IRAs, Traditional and Roth IRA are the most popular, a GECU adviser can guide you in a direction that will work for your goals.
- Anyone under 70½ with eligible compensation
- You can establish a Traditional IRA even if you're covered by another retirement plan
- Contributions are not allowed after age 70½
- Money grows tax-deferred until withdrawal
- Withdrawals required to begin at 70½
- Learn more about Traditional IRAs in our IRA Service Center
- Save money on a tax-free basis
- Contributions are not deductible
- Contributions allowed after age 70½ provided you have earned income
- Earnings grow tax-free and withdrawal of earnings are tax-free
- Tax-free withdrawals can be made after having the account for 5 years. There may be a penalty if withdrawing before age 59½
- Learn more about Roth IRAs in our IRA Service Center
IRA savings account and IRA Certificate - the best of both worlds.
There's no minimum balance requirement to open an IRA savings account and begin earning on your retirement savings. You can contribute to your account at any time through Payroll Deduction or by speaking with a loan officer, branch manager, or IRA specialist.
An IRA Certificate gives you the consistent, guaranteed interest of a certificate and the tax advantages of an IRA. Your certificate will automatically renew at maturity at the prevailing rate unless you choose otherwise. There may be penalties for withdrawing funds prior to the maturity date. An IRA savings account is required to open an IRA Certificate.
An IRA Certificate offers:
- Stability. Stable earnings you can count on no matter the ever-changing investment values.
- Flexibility. With a low minimum balance requirement, begin earning on your retirement savings on as little as $500.
- Tax savings. Get the tax advantages of a traditional or Roth IRA.
Sit back and know you're in good hands.
Aside from working with the top IRA specialists in the area, all GECU IRAs are federally insured separately, from other deposits up to $250,000 by the National Credit Union Administration (NCUA). For more details about how your GECU accounts are protected, please click here for an informative brochure. Calculate your accurate insurance by using the NCUA e-calculator.
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