If you are using a screen reader or other auxiliary aid and are having problems using this website, please contact us at 1.800.633.7077.
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.
Request a new account Check Rates Contact CEFCU
Features and Benefits
Traditional
Roth
Traditional
Roth
Eligibility
Anyone who has earned income
Anyone (any age) who earns less than the IRS-maximum
Traditional
Roth
Tax Deductible Contributions
Sometimes1
Traditional
Roth
Income Limits
check2
Traditional
Roth
Original contributions withdrawal
check3
Traditional
Roth
Withdrawals
Taxable
Tax Free
Traditional
Roth
Qualified distributions
Any one of:
Age 59½, death, disability, first home purchase (up to $10,000), higher education, birth/adoption of a child (up to $5,000)
Age 59½, death, disability, first home purchase (up to $10,000), higher education, birth/adoption of a child (up to $5,000)
Account held 5 years AND any one of:
Age 59½, death, disability, first home purchase (up to $10,000), higher education, birth/adoption of a child (up to $5,000)
Age 59½, death, disability, first home purchase (up to $10,000), higher education, birth/adoption of a child (up to $5,000)
Traditional
Roth
Required distributions
Beginning the year you turn 734
Traditional
Roth
Terms
1, 2, 3, 4, or 5 years
1, 2, 3, 4, or 5 years
Traditional
Roth
Minimum Deposit
Fixed term: $500
Daily account: $5
Daily account: $5
Fixed term: $500
Daily account: $5
Daily account: $5
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.5
Contribution Limits
IRA Contribution Limit6
Catch-Up Contribution5
IRA Contribution Limit6
Catch-Up Contribution5
2023 tax year
$6,500
$1,000
Contribution Deadline: You have until the tax-filing deadline (generally April 15) of the following year to make allowable contributions.