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Why TruWest

Dynamic Savings Options for Your Retirement

IRAs

TruWest offers three types of Individual Retirement Accounts (IRAs): Traditional, Roth and Educational Savings. Choose the option that fits your needs, and take the first step toward securing your financial future.

To open an IRA, visit your nearest TruWest branch or call 1(855) 878-9378.

  • Competitive dividends
  • Flexible investment options
  • Tax benefits available
  • NCUA insured retirement funds

Open an IRA—Become a Member

If you are not yet a TruWest member, your IRA will solidify your membership and part-ownership of the credit union. All it takes is a minimum deposit of $5.

Types of IRAs

Traditional IRA. Contributions you make to your IRA may be tax-deductible. That means you can jump-start your retirement savings with this high-performing account. However, any withdrawals you make from a Traditional IRA may be taxed as income. For further details, consult your tax advisor.

Roth IRA. If you have more time to save and don’t mind paying taxes now, a Roth IRA may be a good option for you. Contributions you make to your Roth IRA are not tax-deductible, but withdrawals may be tax-free. For further details, consult your tax advisor.

Educational Savings Account (ESA). Contribute to your child’s future with a Coverdell ESA. This account matures without incurring federal income taxes, and withdrawals may be tax-free. For further details, consult your tax advisor.

IRA Certificates for Greater Flexibility

Add a certificate to your IRA, and enjoy high yields, fixed-dividend rates and term options from 3-60 months. To learn more about our IRA Certificate options, visit your nearest branch or call (855) 878-9378.

Rates & Fees

for IRAs

IRA CD

Minimum Balance Term APY*
$1,000 3 - Month 0.20%
$20,000 3 - Month 0.25%
$100,000+ 3 - Month 0.25%
$1,000 6 - Month 0.60%
$20,000 6 - Month 0.65%
$100,000+ 6 - Month 0.65%
$1,000 12 - Month 0.75%
$20,000 12 - Month 0.80%
$100,000+ 12 - Month 0.80%
$1,000 24 - Month 1.15%
$20,000 24 - Month 1.20%
$100,000+ 24 - Month 1.20%
$1,000 36 - Month 1.35%
$20,000 36 - Month 1.40%
$100,000+ 36 - Month 1.40%
$1,000 60 - Month 1.70%
$20,000 60 - Month 1.75%
$100,000+ 60 - Month 1.75%

Effective as of August 23, 2017
*APY=Annual Percentage Yield. APYs are based on daily compounding. APYs are current as of the dates on this chart and are subject to change. Call 1(855) 878-9378 for terms and conditions.
A penalty may be imposed for early withdrawal. Fees could reduce earnings.
A minimum $5 balance in Share Savings required to be eligible for Services.

IRA Savings

Minimum Balance Term APY*
N/A N/A 0.35%

Effective as of April 1, 2017.
*APY=Annual Percentage Yield. APYs are based on monthly compounding. APYs are are subject to change. Fees could reduce earnings. Call 1 (855) 878-9378 for terms and conditions.
A minimum $5 balance in Share Savings required to be eligible for Services.

FAQs

Frequently Asked Questions

  • What is an IRA?
    Answer:

    An IRA is an account used to accumulate savings for retirement through investments in stocks, bonds and mutual funds. The two common types of IRAs are Traditional and Roth, each offering different tax benefits.

  • What is an IRA certificate?
    Answer:

    An IRA certificate, or IRA CD, is a type of investment you can have within your IRA. Like our other certificates, it offers different term and rate options. The benefits of investing in an IRA certificate include fixed rates and higher yields. However, you’ll have limited access to your funds and will incur penalty fees if you withdraw your money before the certificate matures.

  • Can I get an IRA certificate without first having an IRA?
    Answer:

    Members must first open an IRA before they can invest in an IRA certificate.

  • Can I get an IRA if I'm already a member?
    Answer:

    Yes. If you already have a Share Savings Account, you can still get an IRA. However, you don’t need a Share Savings Account to open an IRA.

Next Steps

As easy as 1, 2, 3

Opening an IRA

To open an IRA, visit your nearest branch, or call us at 1 (855) 878-9378.

Questions?

We're happy to help! Just give us your name, email and phone number and we'll get in touch with you shortly.

As a reminder our branches will be closed November 23rd for Thanksgiving. We will resume normal hours for November 24th and 25th.