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Invest in Your Future with an IRA (Individual Retirement Account)

There is no better time to start saving for retirement, than right now! Whether you’re just getting started or looking to supplement an existing 401K with your employer, we can help. At UECU, we offer an array of retirement savings options.

UECU’s IRA Benefits:

  • Multiple savings options with tax advantages (Traditional IRA, Roth IRA, IRA Certificates of Deposit, and Coverdell ESA)
  • Competitive dividends consistently higher than the national average
  • Insured up to $250,000 by the NCUA
  • No account opening or maintenance fees
  • Expert IRA Specialist available
  • Access to your account 24/7 with Advantages Online™ and the UECU Mobile Banking App
  • Convenient payroll deduction

Choose the IRA that’s Right for You:

Traditional IRA

 

One of the key benefits to contributing to a Traditional IRA is the potential for a tax deduction up front. This option may make sense for you if you anticipate a higher tax rate while saving, anticipate a lower tax rate during retirement, are interested in taking the Required Minimum Distribution (RMD) amounts during retirement, or you are not concerned about tax savings for beneficiaries.

  • Tax considerations: Contributions may be tax deductible; earnings are tax-deferred
  • Eligibility: To contribute to a Traditional IRA, the owner must be under age 70½ by the end of the year, earn income (equal to or exceeding the amount of the contribution). For income limits, see IRS Publication 590 at irs.gov.
  • Maximum yearly contribution: Up to $5,500 for 2018 and up to $6,000 for 2019 (plus $1,000 if you are age 50 or older)
  • Contribution deadlines: You can contribute to your IRA until the due date for filing your federal income tax return for the year (for most individuals this is typically April 15th)
  • Required Minimum Distributions (withdrawals): Must start by April 1st of the year after participant turns age 70 ½
Roth IRA

Unlike the Traditional IRA, contributions to a Roth IRA are never tax-deductible. But the money you contribute to your Roth IRA can be withdrawn tax-free at any time. And if you qualify, you can withdraw the earnings tax-free too. A Roth IRA may be more fitting if you anticipate a lower tax rate while saving, anticipate a higher tax rate during retirement, want to avoid RMDs, are concerned about tax savings for beneficiaries, or you are not eligible to contribute to a Traditional IRA because of the age limit.

  • Tax considerations: Contributions are taxable and can be withdrawn tax and penalty-free at any time; earnings are tax-deferred; certain earnings withdrawals may be tax-free
  • Eligibility: No age limit to contribute; however, the owner must be earning income . See income limits below.
  • Income limits: For 2018, contributions begin phasing out at these Modified Adjusted Gross Incomes (MAGIs): $120,000 for single and head of household or $189,000 if married, filing jointly. For 2019, contributions begin phasing out at these Modified Adjusted Gross Incomes (MAGIs): $122,000 for single and head of household or $193,000 if married, filing jointly.
  • Maximum yearly contribution: Up to $5,500 for 2018 and up to $6,000 for 2019 (plus $1,000 if you are age 50 or older)
  • Contribution deadlines: You can contribute to your IRA until the due date for filing your federal income tax return for the year (for most individuals this is typically April 15th)
  • Minimum Required Distributions (withdrawals): No withdrawal requirements
Advantages IRA Certificate of Deposit

For current rates, click here.

Coverdell Education Savings Account

For additional Information, click here.

Saving for retirement with an IRA is a great idea. Not sure if it’s the best retirement savings choice for you?

Let UECU CueItup!

Your IRA Options
Roth IRAs
Traditional IRAs
Coverdell ESAs
HSAs
Ready to Get Started? Need Help? Have Questions?

Call our IRA Specialist, Jolynn Stuebner at 800.288.6423, ext. 4053 or contact her via email at  jstuebner@UECU.org

This information is not intended to provide tax advice. See a competent tax advisor to help you determine which type of IRA best suits your needs.

Looking for More Options?

Check out Utilities Employees Investment Services* at www.utilitieseis.com

*Securities and insurance products are offered through Cetera Investment Services LLC (doing insurance business in CA as CFGIS Insurance Agency), member FINRA/SIPC. Advisory services are offered through Cetera Investment Advisers LLC. Neither firm is affiliated with the financial institution where investment services are offered. Investments are: *Not FDIC/NCUSIF insured *May lose value *Not financial institution guaranteed *Not a deposit *Not insured by any federal government agency.

0.80% APY* UECU Share Savings Account

UECU’s Share Savings Account is the foundation for membership and a great savings tool! Open one today and begin enjoying the advantages of membership!

  • Saving money has never been easier with a low minimum balance of $5.00. Earn a high yield dividend.
  • Convenient access to your money anytime day or night through Advantages Online

Convenient payroll deduction into your account means you won’t miss the money and you’ll be surprised when you see how much you have saved!

 

Not a UECU Member Yet? Join Today!
To Get Started, Call 
800.288.6423 or Join Online.
Join Today  Learn More

 

 Forms and Disclosures

*APY=Annual Percentage Yield.

CueItUp

Not sure what kind of savings account is best for you? 

Let UECU CueItUp!

0.80% APY** Health Savings Account

With the rising cost of health care and many companies offering high deductible health care plans, UECU’s HSA helps you defray the cost of health care expenses. Our HSA earns a great high-yield dividend while helping you manage your health care.

  • Make medical purchases with the free HSA Visa Debit Card everywhere Visa is accepted - and earn VantagePoints™ rewards on your signature-based, point of sale card purchases
  • With UECU’s HSA you don’t have to worry about moving the account if you switch jobs

Contributions are tax-deductible, earnings are tax-deferred, and qualified distributions are tax-free and penalty-free

 

Have Questions? Need Help Getting Started? Call 800.288.6423.
To open an HSA, complete the application and return it to UECU. 
HSA Application Learn More

Forms and Disclosures

**APY=Annual Percentage Yield.

CueItUp

 

Health savings accounts help meets today’s needs and in retirement.  Get ready for retirement today.

Let UECU CueItup!

 

0.80% APY* UECU Special Goal Savings Account

Our Special Savings Accounts are the perfect solution for budgeting your finances. Tailor your account titles to help you realize your savings goals.

  • Easy and convenient way of setting aside funds for taxes, car insurance, etc.
  • No minimum balance helps you avoid fees and earn a great rate on your funds no matter how much you deposit
  • Convenient access to your funds anytime, anywhere day or night through Advantages Online
  • Convenience of payroll deduction, you won’t miss the money going into your account and you’ll be surprised when you see how much you have saved

 

Ready to Get Started?
Call 800.288.6423 or Open Your Account with Advantages Online™.
Open Account Learn More

Forms and Disclosures

*APY=Annual Percentage Yield. 

CueItUp

Do you have an emergency savings account?  It’s just one of many great ways to put a special savings account to work for you. 

Let UECU CueItup!

Earn Up To 1.75% APY*

This higher dividend-earning account is an ideal alternative to certificates, allowing you to earn a great rate of return plus your money is available to you at any time.

  • Convenient access to your funds anytime, anywhere day or night through Advantages Online
  • Use your Quick Cash Card at any ATM you want and we won’t charge you, in fact we will rebate up to $8.00 a month when the others do!
  • Convenience of payroll deduction, you won’t miss the money going into your account and you’ll be surprised when you see how much you have saved

 

Ready to Get Started?
Call 800.288.6423 or Open Your Account with Advantages Online™.
Open Account Learn More

Forms and Disclosures

*APY=Annual Percentage Yield.

CueItUp

Higher rates on money market accounts make saving more rewarding.  Not sure it’s the best option for you? 

Let UECU CueItup!

  • Competitive Rate – 2.60% APY* on regular and IRA CDs
  • Guaranteed Return – Rate is locked in for 20 months
  • Flexibility - Invest as little as $500
  • NCUA Insurance – Funds are insured
  • Interest Payments – Can be reinvested in the CD or deposited in your UECU deposit (savings) account
  • Savings Calculator - Calculate your savings below
 
Ready to Get Started? Call 800.288.6423. 
Learn More

Forms and Disclosures

*Dividend rate and Annual Percentage Yield (APY) are stated as of 4/15/2019. $500 minimum deposit required to open account. You may not make additional deposits after the account is opened. APY assumes principal and dividends remain on deposit until maturity. A penalty is imposed for partial or full withdrawals prior to maturity. Fees could reduce earnings on the account. Certificate renews automatically. 20 month certificate renews automatically for 18 months. APY is subject to change and may be withdrawn without notice.

Cue It UP

Higher rates on certificates of deposit are enticing, and can be part of a great savings plan.  Is it the right option for you?

Let UECU CueItup!

Worried about the high cost of education in the future? A Coverdell Education Savings Account is a great way to start saving for your child’s educational future.

  • Peace of mind knowing that your funds are protected from the market swings that affect other accounts
  • No need to worry if you switch jobs you can make contributions to your Coverdell Savings from your new job

Convenient payroll deduction into your account means you won’t miss the money and you’ll be surprised when you see how much you have saved!


Ready to Get Started? Need Help? Have Questions?

Call our IRA Specialist, Jolynn Stuebner at 800.288.6423, ext. 4053 or contact her via email at  jstuebner@UECU.org

Open Account Learn More

Forms and Disclosures

Cue It UP

Not sure what options are available to best save for higher education costs? 

Let UECU CueItup!

Federally Insured by NCUA
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