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IRAs

The earlier you start saving for retirement, the better. Get started today with just $5 and a CEFCU IRA.

If you're interested in transferring or rolling over an IRA to CEFCU, please visit a Member Center or call 1.800.542.3328 ext. 33409.

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There is a $6,500 maximum annual contribution limit, combined, between Roth and Traditional IRAs. If you’re over 50, ask your tax advisor about catch-up contributions.Footnote 5

 

Contribution Limits

 

Contribution Deadline: You have until the tax-filing deadline (generally April 15) of the following year to make allowable contributions.

Features & Benefits

Online Banking

Check balances, transfer money, and more 24/7.

Mobile App

Access your accounts with your smartphone or tablet.

eStatements

Go green and enjoy convenient, secure statement access

Direct Deposit

Save time and enjoy faster access to your money.

CEFCU IRAs are Federally Insured up to $250,000 by the National Credit Union Administration (NCUA). This is in addition to the federal insurance on your other CEFCU accounts.

  1. The deduction available to active participants in employer-sponsored retirement plans is phased out on a sliding scale for individual taxpayers with modified adjusted gross income between $73,000-$83,000, and for joint filers with modified adjusted gross income between $116,000-$136,000 for 2023. Ask your tax advisor for more information.
  2. The contribution eligibility for Roth IRAs is phased out on a sliding scale for individual taxpayers with modified adjusted gross income between $138,000-$153,000, and joint filers with modified adjusted gross income between $218,000-$228,000 for 2023.
  3. May be subject to a CEFCU withdrawal penalty based on the terms of the IRA.
  4. You must take your first required minimum distribution for the year in which you turn age 73. However, the first payment can be delayed until April 1 of the year following the year in which you turn 73. For all subsequent years, including the year in which you were paid the first RMD by April 1, you must take the RMD by December 31 of the year.
  5. IRA holders who will be age 50 can make an additional catch-up contribution for the tax year in which they attain age 50 and any year thereafter. The maximum contribution a person age 50 or older may make for the 2023 tax year is $7,500.
  6. IRA contributions are an aggregate total of Traditional and Roth IRA contributions.