- Grow money tax-deferred and maximize your earnings
- Choose the account that’s right for you: Traditional or Roth
- Gain help and guidance along the way from our investment experts
How IRAs work
IRAs (Individual Retirement Accounts) allow you to save money at a tax-advantage. They are an essential part of many retirement portfolios, and a popular choice among SIU Credit Union members. A Traditional IRA lets your earnings grow tax-deferred. You pay taxes on your investment gains only when you make withdrawals in retirement. For a Roth IRA, there’s no initial tax benefit. However, your money and your investment earnings grow tax-free, meaning there’s no income tax on Roth IRA withdrawals in retirement. If you’d like additional help picking out the right IRA and deciding how much to contribute, see our FAQs below or reach out to us directly.
Up to
1.45%
Rates as high as 1.45%.
By choosing a longer maturity date, you can secure a higher rate. The minimum balance to earn dividends is $1,000.
View RatesCalculate your savings
Use this calculator to estimate your savings growth over time.
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Disclosures
*MAGI-Modified Adjusted Gross Income.
**Lifetime limit for exemption on first-time home purchase is $10,000
This information is not intended as tax advice. Please seek a qualified tax professional regarding your individual circumstances.