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Individual Retirement Accounts

Multiple ways to save for any lifestyle!

Features

ECU IRAs offer different types of Individual Retirement Account options to fit every lifestyle and saving need.

  • Competitive rates
  • Flexible terms
  • Personalized, friendly service

Please consult your tax advisor for items pertaining to tax deductibility.


Ready to open an IRA?

Visit an ECU branch and ask to speak with a Member Service Representative.

Traditional IRA

A powerful tool in creating a balanced, long-term savings plan.

An individual retirement savings plan that offers tax-deferred earnings and the possibility of tax-deductible contributions. These tax advantages make the Traditional IRA a powerful tool in creating a balanced, long-term savings plan.

  • Anyone can contribute, as long as they have earned income
  • Tax-deferred earnings
  • Contributions are tax-deductible

View Traditional IRA Brochure

View Inherited IRA Brochure

View IRA Transfers, Rollovers, and Conversions Brochure



Roth IRA

A retirement account that offers different tax incentives than a Traditional IRA.

An individual retirement account that offers different tax incentives than a Traditional IRA to boost your retirement savings. Unlike a Traditional IRA, contributions to a Roth IRA are never tax-deductible, but the initial deposits to your Roth IRA can be withdrawn at any time. However, for tax-free dividends, you may not withdraw funds until you are 59 ½ years of age and have had the account for five years. You pay taxes on your contributions now.

  • Tax-free income in retirement
  • You can contribute after age 70 1/2
  • Initial deposits can be withdrawn at any time

View Roth IRA Brochure



Educational IRA

An individual retirement account offered specifically to help pay for your child's educational expenses.

An individual retirement account offered specifically to help pay for your child's educational expenses, such as: tuition, fees, books, supplies, equipment, and in some cases, room and board, and computers. The Educational IRA is not tax-deductible; however, it offers the potential for tax-free withdrawals including earnings.

View Coverdell ESA Brochure

IRA Rates

Account Annual Percentage Yield Dividend Rate
Accumulation Account ($5.00 Minimum) 0.3000% 0.3000%
Access Account ($10,000 Minimum) 0.2500% 0.2500%

Rates accurate as of May 1, 2024 and are subject to change.

Investment Certificates are also available for IRAs. Please refer to the Investment Certificate Ratesfor current rates.

1APY refers to annual percentage yield and is subject to change at the discretion of Eastman Credit Union with the exception of the share account which is determined by the credit union board of directors. APY assumes dividends will remain on deposit. APY is an annual calculation based on 365 days (366 days in a leap year). Fees or withdrawals may reduce earnings. APY can change after account opening for variable rate accounts. APY shown is accurate as of the last dividend declaration date. Dividends are paid monthly on all accounts. Dividends earned on all accounts may be transferred to another account at ECU. Checks are not issued for dividends earned on these account types.