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It’s never too early to start thinking about the future. Start saving today with an IRA to get the retirement you deserve.

Key Features

  • Competitive Dividends
  • No Setup Fees
  • Tax Advantages1
  • Competitive dividends above standard savings rates
  • Traditional and Roth IRA options
  • No setup fees
  • No monthly or annual maintenance fees
  • Annual contribution limits apply (see current contribution limits; $6,000 as of 2022)
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Funds can be used to purchase share certificates within IRA
  • Minimum opening deposit varies by account; compare our IRA options below

There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA

  • No income limits to open
  • No minimum contribution requirement
  • Contributions are tax deductible on state and federal income tax1
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59 ½
  • Early withdrawals subject to penalty2
  • Mandatory withdrawals at age 72 

Roth IRA

  • Income limits to be eligible to open Roth IRA3
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal1
  • Principal contributions can be withdrawn without penalty1
  • Withdrawals on interest can begin at age 59 ½
  • Early withdrawals on interest subject to penalty2
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income 

Can I open both a Traditional and Roth IRA?

Yes. Opening both types of retirement accounts allows you start a balanced retirement portfolio. Consult your tax advisor to decide where your contributions should be made.

For more information and answers to your questions about establishing an IRA at Valley Communities Credit Union, talk to one of our member service representatives.

1Subject to some minimal conditions. Consult a tax advisor.

2Certain exceptions apply, such as healthcare, purchasing first home, etc.

3Consult a tax advisor.


Traditional or Roth IRA Passbook (Savings Account)

Traditional or Roth IRA Certificate

Traditional or Roth IRA Money Market

Best If You Want To...

Save for retirement while earning interest on your savings

Earn more interest on fixed terms

Earn more money on your retirement savings while still having easy access

Balance to Open




Online Banking




Minimum Balance to Earn Interest




Monthly Service Charge




Deposits Insured by NCUA up to $250,000




Create an easier transition into college for yourself and your student by setting up a savings account early. A Coverdell ESA provides a tax-free safe place to grow competitive dividends and also financial confidence for a new stage in life. 

  • Set aside funds for your child's education
  • No setup or annual fee
  • Dividends grow tax-free
  • Can be set up as a VCCU passbook account or VCCU share certificate account
  • Withdrawals are tax-free and penalty-free when used for qualified education expenses1
  • Designated beneficiary must be under 18 when contributions are made
  • To contribute to an ESA, certain income limits apply2
  • Contributions are not tax deductible
  • $2,000 maximum annual contribution per child
  • The money must be withdrawn by the time he or she turns 303
  • The ESA may be transferred without penalty to another member of the family
  • No minimum deposit to open

1Qualified expenses include tuition and fees, books, supplies, board, etc.

2Consult your tax advisor to determine your contribution limit.

3Those earnings are subject to income tax and a 10% penalty.

1Valley Communities Credit Union does not provide tax advice. Consult your own accountant or tax advisor before acting on this information.