Sign In

Access CU Online

Get Our Mobile App

Roth Individual Retirement Account

Prepare for retirement with a Roth IRA.
Find a Branch

Not a Member? Join Now

Older man sitting on a couch being hugged from behind by his wife_1

    Begin saving for retirement today.

    With a Roth IRA, you pay taxes now for funds deposited in order to make tax-free withdrawals when you retire. Wings can help you structure your IRA around specific goals so your expenses and lifestyle are covered in retirement. Every individual situation is unique.

    eDocuments

    Enroll in eDocuments to access up to two years of statements all in the Wings Mobile App or CU Online.

    Roth IRA Contribution Limit

    Tax Year. Contribution Limit Catch-up Limit Total Limit for Age 50 and Over

    2019

    $6,000

    $1,000

    $7,000

    2020

    $6,000

    $1,000

    $7,000

     
    Straight Answers to Your Roth IRA Questions
    Traditional or Roth IRA - Which is Right for You?

    Common questions about Roth IRAs

    View All FAQs

    What is an IRA?

    IRAs are Individual Retirement Accounts.

    When Social Security and pension plans are not enough to maintain your standard of living at retirement, an Individual Retirement Account (IRA) can be an excellent investment. Both the Roth and traditional IRA offer a number of benefits, depending on your current financial situation.

    • Traditional IRAs allow you to defer taxes on your contributions' earnings until they are withdrawn.
    • Roth IRAs allow only nondeductible contributions and features tax-free withdrawals for certain distribution reasons after a five-year holding period.
    • Coverdell Education Savings Accounts (CESA) are non deductible accounts that feature tax-free withdrawals for a child's education expenses.

    What is a Roth IRA?

    The Roth IRA allows only nondeductible contributions and features tax-free withdrawals for certain distribution reasons after a five-year holding period. If you expect to be in a higher tax bracket when you retire, you may benefit more from a Roth IRA, since contributions are nondeductible and taxed in the year they are earned.

    You may also choose between an IRA Certificate with a specific term, an IRA Share Account or an Investment Money Market Account.

    You must be a member of Wings (with a Primary Share Account) prior to opening a Retirement Account. If you are not currently a member, open your account online or download a membership application.