Menu Log In Individual Retirement Accounts (IRAs) Schedule an Appointment It's never too early to start planning for the future with an IRA. There are three types of IRAs to choose from (Traditional, Roth and CESA) that can be held as either a savings account or certificate. If you are looking for an IRA with more investment options, Investment Services at UW Credit Union can help. Special Offer: IRA Special Available for a Limited Time Compare Our Most Popular IRAs 60 mo. IRA 0.44 % APY* 48 mo. IRA 0.37 % APY* 36 mo. IRA 0.30 % APY* 24 mo. IRA 0.24 % APY* 12 mo. IRA 0.19 % APY* Traditional IRA The Traditional IRA helps you save for your retirement and contributions may be tax deductible. Your Traditional IRA can either be an IRA Savings or IRA Certificate—you choose the account type you prefer. Individuals with qualifying income may contribute, no contribution age limit as of January, 2020 Early withdrawals are subject to 10% penalty unless disabled or paying for qualified expenses like a first home or education Mandatory distributions at age 72 Learn more about contribution limits and deductibility Benefits Contributions may be tax deductible Dividends grow tax-deferred until withdrawn Funds may be used to purchase a first home, up to a $10,000 lifetime maximum Funds may be used to pay for qualifying education expenses Ready to get started? Make an appointment or call us to open your account. Schedule an AppointmentContact Us Roth IRA A Roth IRA helps you save for your retirement by sheltering your earnings from income tax. Your Roth IRA can either be an IRA Savings or IRA Certificate—you choose the account type you prefer. Individuals with qualified income may contribute, regardless of age Contributions are nondeductible Early withdrawals of earnings are subject to 10% penalty unless disabled or paying for qualified expenses like a first home No distribution requirements Learn more about contribution limits and deductibility Benefits All withdrawals, including earnings, are tax-free if the account has been open at least 5 years and are used for qualified expenses No requirement to withdraw at any age Contributions can be made at any age, with qualified income Funds can be used to purchase a first home, up to a $10,000 lifetime maximum Ready to get started? Make an appointment or call us to open your account. Schedule an AppointmentContact Us Coverdell Education Savings Account (CESA) A CESA helps you save for a child’s or grandchild’s education. Your CESA can either be a savings account or certificate—you choose the account type you prefer. Individuals of any age may contribute for a beneficiary child or grandchild under age 18, or according to special needs exceptions Contributions are nondeductible Withdrawals after the beneficiary reaches age 30 may be subject to taxes and a 10% penalty, unless rolled over to a family member’s CESA Funds must be withdrawn by the time the child beneficiary reaches age 30, or according to special needs exceptions defined by law Must be used for qualified education expenses Student can attend school full or part time Contributor must meet income requirements Learn more about contribution limits and deductibility Benefits All withdrawals, including earnings, are tax-free for qualified education expenses Funds can be rolled over to another family members CESA Contributions to CESAs are allowed regardless of Traditional or Roth IRA participation Ready to get started? Make an appointment or call us to open your account. Schedule an AppointmentContact Us Checking Loans Credit Cards Savings & Investments Savings Overview Savings Accounts Certificates Money Markets IRAs Compare Options Investments & Financial Planning Learning Center Featured Technology Become a Member Locations Contact Us Rates Apply Help Seminars | Budget Health | Calculators | News | Careers Search this site Search ROUTING NUMBER 275979076 About UWCU | Privacy Policy UW Credit Union's Instagram Page UW Credit Union's LinkedIn Page UW Credit Union's Twitter Page UW Credit Union's Facebook Page To count as one Qualifying Service, at least one of the following minimum balances is required: Money Market - $2,500; IRAs or College Fund - $500. For questions regarding the tax implications of your IRA account(s), please consult a tax professional. Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Android, Google Play and the Google Play Logo are trademarks of Google Inc. Copyright © 2021 UW Credit Union. All rights reserved.