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Roth IRA Accounts

Roth IRA Accounts may offer greater tax savings and withdrawal flexibility than a Traditional IRA.

Open an IRA and get a $100 Bonus

Open a new IRA plan with a minimum $2,500 balance (or contribute a minimum $2,500 to your existing IRA using non-Star One funds) by July 15, 2020 and get a $100 bonus.*

  • Take advantage of tax benefits and tax-deferred interest
  • Have more flexibility and control over your investment
  • IRAs are separately insured up to $250,000 by the NCUA
  • Watch it grow with compounded interest and competitive rates

Roth IRA Accounts may offer greater tax savings and withdrawal flexibility than a Traditional IRA. Both Contributory and Conversion plans are available.

While Roth IRA contributions are not tax-deductible, contributions and earnings can be withdrawn tax-free on qualified distributions.

Roth IRA Accounts have no mandatory annual distribution requirements and you can contribute beyond age 70½. Eligibility depends on income.

CARES Act, SECURE Act 2020 and your IRA

The 2019 income-tax filing and payment deadline has been extended to July 15.

New legislation brings flexibility in how you manage your Star One IRA this year:

  • the CARES Act (Coronavirus Aid, Relief and Economic Security Act)
  • the SECURE Act 2020 (Setting Every Community Up for Retirement Enhancement Act)

Contribution changes

  • 2019 IRA contributions may be made as late as July 15
  • Traditional IRA contributions can now be made after age 70½
  • Expanded definition of the eligible compensation for Graduate student IRA contributions

Distribution changes

  • Coronavirus-Related Distributions (CRDs) up to $100,000 are allowed—exempt from the 10-percent early-distribution penalty tax
  • Distributions may be taken for birth or adoption
  • Delayed age for Required Minimum Distributions (RMDs)
  • Individuals will not be required to take their 2020 required minimum distributions (RMDs)

Learn more about the CARES Act .

Learn more about the SECURE Act 2020.

Roth IRA Accounts

  • No IRA setup, administration or annual maintenance fees
  • Convenience of payroll allocations and automated deposits
  • Automatic IRA distributions available
  • 10-business-day grace period and automatic renewal on Certificate Accounts
  • Competitive IRA interest rates
  • Knowledgeable, qualified staff
  • Monthly statement

Roth IRA Account Summary

Roth IRA Investment Options

  • Savings Account - $100 minimum deposit or $25 with automated deposits
  • Certificate Accounts - $100 minimum deposit or $25 with automated deposits, 6-month, 1-year and 2-year terms

Traditional and Roth IRA Accounts are separately insured to $250,000 by the National Credit Union Administration, an agency of the United States Government. Coverdell Education Savings Accounts are insured under the same provisions as irrevocable trust accounts.


* IRA bonus offer applies to new traditional and Roth IRA plans, transfer or rollover from employer plans or outside IRAs. Transfers from existing Star One IRAs do not qualify. The minimum of $2500 qualifying assets is the total amount of your deposits and transfers minus any withdrawals. Funding must occur within 90 days of IRA opening. Offer not valid for ESAs. Limit one bonus per member per 12-month period. Bonus will be deposited into your new Star One IRA. Minimum qualifying balance must remain in the IRA for at least 180 days or the length of the certificate term, whichever is longer; otherwise, we may charge back the amount of the bonus awarded to the account. Bonus will not be reported to the IRS as an IRA contribution and any taxes related to the bonus are your responsibility. Other terms and conditions or eligibility criteria may apply. Promo Code IRA BONUS.

Roth IRA Interest Rates

IRA / ESA Savings

1.00

%

APY (1.00% rate)



6-Month IRA / ESA

0.90

%

APY (0.90% rate)



1-Year IRA / ESA

0.95

%

APY (0.95% rate)



2-Year IRA / ESA

1.00

%

APY (1.00% rate)

 

Open a Roth IRA

 

Service your Roth IRA

 

Additional Roth IRA Information and Help