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Start early and earn a lifetime of compounded interest. Reap the rewards of your Traditional or Roth IRA when you retire.
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Invest & Retire
Start planning your future now.
As a not-for-profit cooperative, USC Credit Union is invested in helping you live your best life, now and after you retire. It’s never too early to plan, and a high-interest Individual Retirement Account (IRA) lets you save for the future safely and securely at your pace. Traditional and Roth IRAs are both good options. Which IRA is right for you? See for yourself – and learn about another way to save for the future, our Coverdell Education Savings Account.
Members: Send a secured message through Online Banking, call us, or visit a branch to open your new account.
Benefits include:
- Savings accounts for every member
- Comprehensive products
- Superior financial solutions
- Personalized service
- Building your financial security
- Investment planning services
Traditional IRA
Own your future with an IRA.
Invest for the years ahead with tax-deductible contributions to an individual retirement account. Save a little at a time and watch your contributions grow tax-deferred until you withdraw them. It’s your future. Own it.
- Pay no monthly service charge
- Open with $100 minimum balance (Share) or $1,000 (Certificate)
- Contribute up to $6,500 per year if you’re under 50, $7,500 if over 50
APY is accurate as of 11.21.2024
Starting at:
0.20%
Roth IRA
Compound your dividends with a Roth IRA.
Benefit from decades of tax-free, compounded growth with a Roth IRA. When your investments earn interest, that amount gets added to your account balance, compounding your interest and dividends over time.
- Pay no monthly service charge
- Open with $100 minimum balance (Share) or $1,000 (Certificate)
- Contribute up to $6,500 per year if you’re under 50, $7,500 if over 50
APY is accurate as of 11.21.2024
Starting at:
0.20%
Coverdell Education Savings Account
Tax-free savings for education at every stage.
Education can come with a high price tag. Save for it by opening a tax-free Coverdell Education Savings Account (CESA) in the name of a child up to age 18.3 Unlike 529 plans, CESA funds can be used for elementary, secondary or higher education.
- Contribute up to $2,000 per year
- Enjoy tax-free growth and withdrawals
- Open an unlimited number of CESAs for a designated beneficiary
- Use funds for tuition, books, supplies, equipment, academic tutoring and special needs services
What’s Right for You?
 Traditional IRA |  Roth IRA |  Coverdell Education Savings Account | |
|---|---|---|---|
| The right fit for you if… | You’re under 70 ½, want a tax-deductible way to save for retirement and anticipate being in the same or lower tax bracket when you begin taking withdrawals | You’ve reached an age where you want to accelerate your tax-free retirement savings and anticipate being in a higher tax bracket when you begin taking withdrawals | You want a tax-free way to save for education expenses, from grade school to college |
| Deposit & Balance Requirements | $100 minimum balance (Share), $1,000 minimum balance (Certificate) | $100 minimum balance (Share), $1,000 minimum balance (Certificate) | $2,000 annual contribution limit, no limit on number of CESAs for a designated beneficiary |
| Tax Benefits | Contributions grow tax-deferred; tax-deductible each year (subject to income limitations if you’re in an employer-sponsored plan) | Contributions grow tax-free; not tax-deductible in current tax year | Available only to single taxpayers with adjusted gross income (AGI) levels of $95,000 or below and married taxpayers with AGI of $190,000 or below |
| Dividends/Interest | Accrues and compounds monthly, bonus rate on all certificates over $50,000* | Accrues and compounds monthly, bonus rate on all certificates over $50,000* | |
| Withdrawals & Distributions | Penalty-free withdrawals taxed as current income after age 59½ | Penalty- and tax-free withdrawals after age 59½ from accounts open at least five years | Must be used before a student turns 30 or taxes, fees and penalties will apply |
| Learn More about Traditional IRAs | Learn More about Roth IRAs | Learn More about Coverdell Education Savings Accounts |
