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Individual Retirement Accounts

Whether you're just getting started or you've already built up a nest egg, it's important to be financially prepared for retirement. The first step toward financial security is taking the time to learn about your current financial situation and savings options. An IRA provides a tax-advantaged method of saving for retirement.

UVA Community Credit Union IRA Options

  • Traditional IRA - A Traditional IRA is a retirement plan with tax-deferred earnings. Contributions can be tax deductible with certain qualifications.
  • Roth IRA - A Roth IRA does not provide for up front tax deductions but earnings may be tax-free with certain qualifications.
  • Coverdell Education Savings Account (ESA) - An ESA is designed to help pay for a child's education.
  • IRA Rollovers - If you want to consolidate your retirement savings into a single plan, an IRA rollover may be the right plan for you.
  • Simplified Employee Pension Plans (SEP IRA) - A SEP IRA is a retirement plan specifically designed for self-employed and small business owners.

UVA Community Credit Union offers the following account choices for Traditional IRA, Roth IRA, and Coverdell Education Savings Accounts (ESA):

IRA Share Accounts

These variable rate accounts require only a minimum balance of $100 to earn dividends, have no maturity date and offer the flexibility of making additional deposits. Dividends are calculated monthly and compounded quarterly.

View Rates

IRA Certificates

IRA and Coverdell ESA Certificates offer competitive fixed rates, allowing you to lock in a guaranteed rate of return for your savings over the certificate's maturity period. These accounts require only a minimum balance of $500 and are available in various terms. Dividends are calculated monthly and compounded quarterly. Early withdrawal penalties apply and are in addition to any penalties imposed by the IRS in accordance with IRA and ESA regulations.

View Available Certificate Terms and Rates

For information on any of our loan products, visit our Loan Overview.
For information on Online Banking and how it can help manage your finances online, view our Online Banking Overview.

Membership eligibility required. Minimum ongoing balance of $5 is required in a UVA Community Credit Union Share Savings Account. A one-time $5 membership fee may apply if not currently a UVA Community Credit Union member.

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