IRA

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. As long as you have earned income, you can get started saving for retirement with as little as $5!

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.

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 You would instead owe taxes on the money when withdrawn at retirement.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: 1/20/2017
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) 42 Months 1.69% 1.70% $5,000
Fixed IRA Special (Traditional or Roth) 30 Months 1.59% 1.60% $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 $5-$4,999 0.50% 0.50% $5
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 (3)
Rollover
Michele
 • 33 days 7 hrs 56 mins 3 secs ago
What do I need to know about converting a Traditional IRA to a Roth IRA
 

Re: Rollover
Dupaco Moderator
 • 31 days 11 hrs 30 mins 19 secs ago

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

 

Rollover
Michele
 • 33 days 7 hrs 56 mins 3 secs ago
What do I need to know about converting a Traditional IRA to a Roth IRA
 

Re: Rollover
Dupaco Moderator
 • 31 days 11 hrs 30 mins 19 secs ago

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

 

Hi
Tonia
 • 284 days 2 hrs 48 mins 27 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
 • 283 days 5 hrs 44 mins 34 secs ago

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

 

Fees for IRA Account
Zach
 • 361 days 7 hrs 12 mins 16 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
 • 361 days 5 hrs 54 mins 1 sec 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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