Traditional IRA is offered through CUNA Brokerage Services, Inc.¹, a broker/dealer focused on serving credit union members. CUNA Brokerage Services, Inc. is an affiliate of CUNA Mutual Group.

Traditional IRA

An Individual Retirement Account (IRA) is a tax-advantaged account you can use to save for retirement outside of an employer-sponsored plan.

The tax benefit of a Traditional IRA is your contributions are deductible each year you make them.² It may be best for you if you expect to be in a lower tax bracket in retirement. 

For an IRA that instead defers tax advantages to your retirement, consider a Roth IRA.

How it works

• Make contributions up to $6,000 ($7,000 if you’re over age 50)
• Enjoy possible tax benefits by deducting your contributions²
• Watch your savings grow tax-deferred
• Make IRS penalty-free withdrawals after age 59½; they’ll be taxed as income at your then-current tax rate
• Withdrawals taken before age 59½ are generally subject to an IRS penalty
• Begin taking your required minimum distributions no later than April 1 following your 72 birthday.  You must take your first required minimum distribution upon turning age 72 (70 ½ if you turned 70 ½ before January 1, 2020)

How to qualify

• Anyone with earned income can make contributions
• Tax-deductibility is subject to income limitations if you already participate in an employer-sponsored plan
• If your adjusted gross income is less than $140,000 if single, or $208,000 if married, consider a Roth IRA

Traditional IRA is offered through CUNA Brokerage Services, Inc.¹, a broker/dealer focused on serving credit union Members. CUNA Brokerage Services, Inc. is an affiliate of CUNA Mutual Group. For more information about CUNA Brokerage Services, Inc., please visit cunabrokerage.com.

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1. Retirement Planning Financial Professionals are registered representatives of CUNA Brokerage Services, Inc. Representatives are registered, securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, which is not an affiliate of the credit union. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, may lose value, no financial institution guarantee, and not an obligation of the Credit Union. Not a deposit of any financial institution. CUNA Brokerage Services, Inc. is a registered broker/dealer in all fifty States of the United States of America.
2. Please consult a qualified tax professional for tax advice on your specific circumstances.