Individual Retirement Accounts (IRAs) are designed to help you save for retirement. Some IRAs allow you to save without paying taxes on your funds until you begin to make withdrawals. Other IRAs offer tax exempt earnings. AltaOne offers members Traditional and Roth IRAs.
Minimum Opening Amount
$100 (waived if funds are transferred via, Rollover or Transfer)
$500 for Standard IRA Certificates, $5,000 for 18 month CD, $10,000 for 30 month CD
Annual Maintenance Fee
Early Withdrawal Fee & Penalty
IRA Savings: None
IRA Certificate: A penalty will be imposed if the member withdraws any of the principle funds in the IRA certificate before maturity (except for RMDs).1
Maximum individual limit $5,500
Maximum catch-up contribution limit $1,000
Refer to our Rates page for current rates. Dividends are calculated on the daily balance and paid monthly. No dividends will be paid if the account was closed during the month.
Quality for Tax benefits
In many cases, the earnings are tax-deferred or tax exempt. Members should consult their tax advisers for details.
*According to the Economic Growth and Tax Relief Reconciliation Act of 2001, individuals who meet eligibility requirements may contribute up to the lesser of $4000 or 100% of earned income. Individuals age 50 or older may be eligible to contribute more than the regular amount.