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Traditional Individual Retirement Account

Save for retirement with a Traditional Individual Retirement Account.

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Preparing for tomorrow, today.

Save for retirement today with a Traditional IRA, and defer taxes on contribution earnings until you withdraw funds in retirement. We’ll work with you to set up an IRA that works toward your savings goals and delivers peace of mind for your retirement.

No Monthly Fees

Avoid monthly or service fees as an active member.

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Keep track of your finances with CU Online and on-the-go with the Wings Mobile App.
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Traditional IRA Contribution Chart

Tax Year

Contribution Limit Catch-up Limit Total Limit for Age 50 and Over

2023

$6,500

$1,000

$7,500

2022

$6,000

$1,000

$7,000
 
Straight Answers to Your IRA Questions
Traditional IRA PDF
Traditional or Roth IRA - Which is Right for You?
Traditional or Roth IRA PDF
Traditional IRA Application
Request for Transfer or Conversion to an IRA
IRA Distribution Form

Common Questions about Traditional IRAs

View All FAQs

Where can I open an IRA?

Available at branch locations or by mail.

Traditional IRA Application

Roth IRA Application

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  • Traditional IRAs allow you to defer taxes on your contributions' earnings until they are withdrawn.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.

Helping you reach your goals.

Get details and guidance about savings, checking, loans and more. We’ll help you take the next step forward, together.

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Certificates

Take advantage of highly competitive rates with Wings Financial’s Certificates. With terms from three months to five years, our certificates give you safe, secure investment options that consistently rank among the nation's best.

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Roth IRAs

As you plan for retirement, a Roth Individual Retirement Account (IRA) may help you maximize your savings. Wings’ Roth IRAs can be structured around your specific goals so your expenses and lifestyle are covered in retirement.

Save for Retirement

Open a Traditional IRA account at: