Individual Retirement Account
Traditional IRA and Roth IRA
An Individual Retirement Account (IRA) from Dupaco provides a simple way to save for retirement. There is no maintenance fee on a Dupaco IRA and because we're a credit union our rates are among the area's best.
Two IRA programs are available: a traditional IRA, and a Roth IRA. Rules regarding taxes are different between a traditional and a Roth IRA. A comparison chart is available in the compare tab below.
Not yet ready for an IRA?
Launchpad is a savings account that helps you build momentum towards retirement by helping you establish and grow savings at your own pace. But, unlike an IRA, Launchpad has no tax benefits, nor tax consequences or reporting. Learn more about Launchpad and if it's right for you.
Traditional and Roth IRAs do have annual contribution limits of $5,500 with an additional $1,000 catch-up provision for those 50 or older.
Traditional IRA vs Roth IRA Deductions
With traditional IRAs, there is no tax deduction taken in the year of contribution. You would instead owe taxes on the money when withdrawn at retirement. For Roth IRAs, you are taxed on the contribution, however, you earn tax-free withdraws during retirement.
With either the traditional or Roth IRA, you can select a variable-rate investment option, or a fixed-rate term.
To open an IRA, visit any of our locations, or contact a member service representative at (563) 557-7600 / 800-373-7600, ext. 206.
Your IRA deposits are federally insured for up to $250,000 by the National Credit Union Administration (NCUA), an agency of the federal government. This is over and above the $250,000 insurance on your regular savings.