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.

Contribution Limits

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 You would instead owe taxes on the money when withdrawn at retirement.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.

  • Variable Rate IRA: Can be opened with as little as $5.00 and allows you to contribute additional funds up to the maximum limits allowed by law. The rate is declared and paid semiannually.
  • Fixed Rate Term Share Certificate IRA: Offers certificate terms of 18, 36 or 60 months on investment amounts of $1,000 or more. Dividends are compounded semiannually and the rate is guaranteed for the term of the certificate.

To open an IRA, visit any of our locations, or contact a member service representative at (563) 557-7600 / 800-373-7600, ext. 206.

 

IRA Rates

Current as of: 8/22/2017
IRA Account Dividend Rate Annual Percentage Yield1 Min. to Earn
Fixed IRA Special (Traditional or Roth) 59 Months 1.84% 1.85% $5,000
Fixed IRA Special (Traditional or Roth) 25 Months 1.59% 1.60% $5,000
Fixed IRA Special (Traditional or Roth) 12 Months 1.10% 1.10% $5,000
Fixed IRA 60 Months 1.59% 1.60% $1,000
Fixed IRA 36 Months 0.95% 0.95% $1,000
Fixed IRA 18 Months 0.60% 0.60% $1,000
Variable IRA $15,000 and above 1.25% 1.25% $15,000
Variable IRA $5,000-$14,999 0.75% 0.75% $5,000
Variable IRA $1,000-$4,999 0.50% 0.50% $1,000
1Fixed IRA Rates: Dividends and annual percentage yields (APY) accurate as of the last dividend declaration date. Fees may reduce earnings. A penalty may be incurred for early withdrawals.
Variable IRA Rates: Dividends and annual percentage yields accurate as of the last dividend declaration date. The interest rate and annual percentage yield may change after account opening. Fees could reduce earnings on the account. A penalty will be imposed for early withdrawal.

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.

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Comments (4)
Roth ira
Jen D
 • 153 days 11 hrs 59 mins 27 secs ago
So I need $5000 to open a Roth Ira? Can I open a variable Ira with a couple hundred and switch later? What's the difference in iras
 

Re: Roth ira
Dupaco Moderator
 • 153 days 10 hrs 56 mins 27 secs ago

Hi Jen, we will have someone from our IRA team reach out to you.

 

Roth ira
Jen D
 • 153 days 11 hrs 59 mins 27 secs ago
So I need $5000 to open a Roth Ira? Can I open a variable Ira with a couple hundred and switch later? What's the difference in iras
 

Re: Roth ira
Dupaco Moderator
 • 153 days 10 hrs 56 mins 27 secs ago

Hi Jen, we will have someone from our IRA team reach out to you.

 

Rollover
Michele
 • 246 days 15 hrs 4 mins 5 secs ago
What do I need to know about converting a Traditional IRA to a Roth IRA
 

Re: Rollover
Dupaco Moderator
 • 244 days 18 hrs 38 mins 21 secs ago

Hi Michele, we'll have an IRA Specialist reach out to you.

 

Hi
Tonia
 • 497 days 9 hrs 56 mins 29 secs ago
Good day Dupaco, please just want to confirm if 57yrs of age can setup an IRA account? I await your swift respond. Thank you
 

Re: Hi
Dupaco Moderator
 • 496 days 12 hrs 52 mins 36 secs ago

Hi Tonia, our IRA Associate will reach out to you shortly. Thanks!

 

Fees for IRA Account
Zach
 • 574 days 14 hrs 20 mins 18 secs ago
Is this any fees I have to pay for opening/maintaining the IRA Account? Thanks in advance.
 

Re: Fees for IRA Account
Dupaco Moderator
 • 574 days 13 hrs 2 mins 3 secs ago

Hi Zach, At this time, Dupaco does not charge any opening nor maintenance fees for an IRA account. However, there are potential withdrawal fees, depending on your age, investment, and type of distribution.

 

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