Individual Retirement Accounts (IRAs)
Save today for a better tomorrow.
Setting Up an IRA Is Easy at URW
You deserve competitive earnings and tax advantages for your future.
Security
Your IRA funds are held in either a URW savings account or share certificate, which means your principal is protected from market fluctuations.
NCUA-Insured
Your IRA account is insured up to $250,000 by the National Credit Union Administration (NCUA), separate from your regular savings accounts.
Tax-Advantaged Savings
Whether you open a Traditional or Roth IRA, you can grow your retirement savings with tax benefits.
Traditional vs. Roth IRA
View the most up-to-date distribution information on the IRS website.
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Contribution Type
Contribution Type
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2025 Annual Contribution Limit
2025 Annual Contribution Limit
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Tax Deductibility of Contributions
Tax Deductibility of Contributions
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Contributions Permitted After Age 70 1/2
Contributions Permitted After Age 70 1/2
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Tax-Free at Time of Withdrawal
Tax-Free at Time of Withdrawal
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Mandatory Distribution
Mandatory Distribution
Traditional IRA
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Contribution Type
Pre-tax income
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2025 Annual Contribution Limit
$7,000
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Tax Deductibility of Contributions
Up to 100% (depending on Annual Gross Income and participation in an employer-sponsored pension plan, such as a 401(k))
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Contributions Permitted After Age 70 1/2
No
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Tax-Free at Time of Withdrawal
No
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Mandatory Distribution
Age 73 for those who turned 72 after December 31, 2022.
Roth IRA
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Contribution Type
Post-tax income
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2025 Annual Contribution Limit
$7,000
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Tax Deductibility of Contributions
None
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Contributions Permitted After Age 70 1/2
Yes
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Tax-Free at Time of Withdrawal
Yes (provided funds were undistributed in the account at least five years)
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Mandatory Distribution
No
IRA Rates
See all rates.
|
Term |
Interest Rate |
APY* |
Minimum Balance to Earn APY |
Minimum Opening Deposit |
Bump Eligible? |
|---|---|---|---|---|---|
|
*APY – Annual Percentage Yield |
|||||
|
Term 6 Month |
Interest Rate 2.50% |
APY* 2.53% |
Minimum Balance to Earn APY $1,000 |
Minimum Opening Deposit $1,000 |
Bump Eligible? |
|
Term 1 Year |
Interest Rate 3.55% |
APY* 3.60% |
Minimum Balance to Earn APY $1,000 |
Minimum Opening Deposit $1,000 |
Bump Eligible? |
|
Term 2 Year |
Interest Rate 3.05% |
APY* 3.09% |
Minimum Balance to Earn APY $1,000 |
Minimum Opening Deposit $1,000 |
Bump Eligible? |
|
Term 3 Year |
Interest Rate 2.05% |
APY* 2.06% |
Minimum Balance to Earn APY $1,000 |
Minimum Opening Deposit $1,000 |
Bump Eligible? |
|
Term 5 Year |
Interest Rate 1.55% |
APY* 1.56% |
Minimum Balance to Earn APY $1,000 |
Minimum Opening Deposit $1,000 |
Bump Eligible? |
|
IRA Type |
Interest Rate |
APY* |
|---|---|---|
|
*APY – Annual Percentage Yield |
||
|
IRA Type Liquid |
Interest Rate 0.55% |
APY* 0.55% |
|
IRA Type Stable |
Interest Rate 1.55% |
APY* 1.56% |
IRA FAQs
See all FAQs.
Read more about Roth IRAs and Traditional IRAs, as well as the difference between the two.
To determine which IRA is best for you, please consult your tax professional.
Yes. There are no income limits to make contributions to a Traditional IRA. However, it is possible to be affected by filing status and participation in an employer retirement plan. Contributions must not exceed IRS limits. For more details, visit IRS.gov.
Your annual Roth IRA contributions cannot exceed your annual compensation or the limits set by the IRS, whichever is less. See a tax professional for more details or visit IRS.gov for IRS limits.
Yes, as long as you do not exceed the contribution limits set by the IRS. See a tax professional for more details of visit IRS.gov for IRA limits.
As an IRA beneficiary, you have options. You can download our PDF on inherited IRAs to learn more.
If you’re considering taking distributions from your IRA, make sure you understand the potential tax consequences and rules first.
If you’re considering transferring, rolling over, or converting your IRA accounts, refer to our PDF on the different methods of moving your savings.
Plan Your Retirement With Us
Speak with a URW Community financial consultant and get personalized guidance about your retirement goals.