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Retirement (IRAs)

Anything is better than nothing

Start saving for retirement today by opening an IRA savings account to earn higher monthly dividends.

Open an Account

Individual Retirement Accounts

Traditional IRA

Roth IRA

Individual Retirement Accounts

Shared features for all IRA savings accounts

  • Zero Minimum Balance or Monthly Fees
  • Monthly Dividends on balances $25+
  • Dividends are compounded on the average daily balance & paid monthly
  • Penalties for withdrawals made before the age of 59.5
  • Online & Mobile Banking
  • End-of-Year Member Reward Dividend
  • Quarterly Statements
  • Federally insured by the NCUA
  • For Retirement Plan Contribution Limits (visit IRS.gov)
  • We offer two types of IRA savings accounts (Traditional & ROTH)

Traditional IRA

Invest money before taxes are taken out

  • Provides tax deferment benefits by investing money before income taxes are taken out
  • People are usually in a lower tax bracket when they retire vs. working full-time
  • Members should consult their tax advisor for details
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Roth IRA

Invest money after taxes are taken out

  • Provides tax-free funds upon retirement by investing money after income taxes
  • Your money invested grows and can be withdrawn tax-free upon retirement
  • Members should consult their tax advisor for details
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American United took the time to review different retirement savings options with me and I felt confident in the plan we created together. I'm not able to invest a lot at any one time, but slow and steady wins the race. My biggest thing is that I want my money (no matter how much) to work for me by earning interest over time. It helps me sleep at night.

American United FCU Member

Open An Account

Savings Account Rates

Rates up to date as of July 4, 2024. Rates subject to change without notice.

Savings AccountsDividend RateAnnual Percentage YieldMinimum BalanceBalance to Earn Dividends
Primary Savings0.100%0.100% APY$5$50+
GoldStar® Savings10.125%0.125% APY$5$50+
Business Savings0.125%0.125% APY$5$50+
Youth Savings20.150%0.150% APY$5$50+
Club Savings0.100%0.100% APY$0$25+
Escrow Account0.100%0.100% APY$0$50+
Retirement (IRA) Savings30.499%0.500% APY$0$1+

APY = Annual Percentage Yield. Membership required, on approved credit, and rates subject to change at any time without notice. Credit union deposits are federally insured by the NCUA.
1. Additional requirements apply for GoldStar® membership.
2. Must be younger than 18 years of age to open a Youth Savings account.
3. Subject to early withdrawal penalty before the age of 59.5 (Traditional before-tax or Roth after-tax IRAs).

For more information visit Terms & Conditions, Current Rates, and Fee Details.

Frequently Asked Questions

What is an IRA?

An Individual Retirement Account (IRA) is a tax-advantaged account designed to help individuals save for retirement. It can hold investments like stocks, bonds, and mutual funds.

An Individual Retirement Account (IRA) is a tax-advantaged account designed to help individuals save for retirement. It can hold investments like stocks, bonds, and mutual funds.

What are the different types of IRAs?
  • Traditional IRA: Contributions may be tax-deductible, and earnings grow tax-deferred until withdrawn.
  • Roth IRA: Contributions are made with after-tax dollars, and earnings grow tax-free.
  • SEP IRA: Simplified Employee Pension IRA, ideal for self-employed individuals and small business owners.
  • SIMPLE IRA: Savings Incentive Match Plan for Employees IRA, suitable for small businesses with up to 100 employees.

An Individual Retirement Account (IRA) is a tax-advantaged account designed to help individuals save for retirement. It can hold investments like stocks, bonds, and mutual funds.

What are the contribution limits for IRAs?
  • Traditional and Roth IRAs: $6,500 per year (for 2023), with an additional $1,000 catch-up contribution allowed for those aged 50 and over.
  • SEP IRA: Up to 25% of compensation or $66,000, whichever is less.
  • SIMPLE IRA: $15,500, with a catch-up contribution of $3,500 for those aged 50 and over.

An Individual Retirement Account (IRA) is a tax-advantaged account designed to help individuals save for retirement. It can hold investments like stocks, bonds, and mutual funds.

What are the tax benefits of IRAs?
  • Traditional IRA: Contributions may be tax-deductible, and taxes on earnings are deferred until withdrawals are made.
  • Roth IRA: No tax deduction on contributions, but qualified withdrawals are tax-free.
  • SEP and SIMPLE IRAs: Contributions are tax-deductible for the business owner, and employees benefit from tax-deferred growth.

An Individual Retirement Account (IRA) is a tax-advantaged account designed to help individuals save for retirement. It can hold investments like stocks, bonds, and mutual funds.

When can I withdraw money from an IRA?
  • Traditional IRA: Withdrawals can begin at age 59½ without penalty. Required minimum distributions (RMDs) must start at age 73.
  • Roth IRA: Contributions can be withdrawn at any time. Earnings can be withdrawn tax-free after age 59½, provided the account has been open for at least five years.
  • SEP and SIMPLE IRAs: Similar rules to Traditional IRAs, but SIMPLE IRAs have a two-year period during which early withdrawals may incur a higher penalty.

An Individual Retirement Account (IRA) is a tax-advantaged account designed to help individuals save for retirement. It can hold investments like stocks, bonds, and mutual funds.

Did you know you can open Certificates with you IRA money?

  • Requires Retirement (IRA) Savings Account
  • Re-invest retirement savings into higher dividend certificates to earn more
  • GoldStar® members get higher dividend interest rates
  • Penalties for withdrawals made before the age of 59.5
Certificates