IRA ACCOUNTS

START SAVING NOW OR STEP-UP YOUR STRATEGY

Options to help you achieve your retirement or college education savings goals.

IRA OPTIONS THAT FIT YOUR NEEDS

Traditional IRAs, Roth IRAs, and Education IRAs can be opened either as a savings account or a certificate account. The savings option offers members the ability to earn a variable dividend1 rate and the flexibility to access2 their funds at any time. A certificate account gives members the opportunity to earn a higher, fixed dividend3 rate for a term that is right for their needs.

TRADITIONAL IRA4

LET YOUR MONEY GROW TAX-DEFERRED

  • Dividend earnings are tax-deferred until withdrawn
  • Contributions may be tax-deductible on current returns
  • No income limits
  • Penalty-free withdrawals can begin at age 59½5
  • Mandatory withdrawals begin at age 73
ROTH IRA4

GROW TAX-FREE SAVINGS

  • Dividend grow tax-free
  • Earnings may be 100% tax-free upon withdrawal (account must be open at least 5 years with a qualifying reason)
  • Income restrictions on contributions apply
  • Contributions to the CD account option cannot be withdrawn without penalty until maturity
  • Penalty-free withdrawals on dividend earnings at age 59½5
  • No required minimum distributions
  • Contributions are not tax deductible
EDUCATION IRA4

SAVE FOR A CHILD'S FUTURE EDUCATION EXPENSES

  • Coverdell Education Savings Account
  • Dividends grow tax-free
  • Withdrawals are tax-free when used for qualified education expenses6
  • Contributions are not tax deductible
  • Beneficiary must be under 18 at time of opening
  • Beneficiary does not have to be a relative
  • Maximum annual contribution of $2,000
  • Funds must be withdrawn or transferred before the beneficiary reaches age 30 (can be transferred to family member)

IRA ACCOUNT FAQs

Yes. A General Membership gives you access to IRA accounts and other account options, as well as Savings, Checking, and so much more. Anyone who lives in Nevada can join! Learn more about how to qualify for a Silver State Schools Credit Union membership.

The Silver State Schools Credit Union service area is the entire state of Nevada. While our core membership is comprised of those involved in the educational industry, such as employees, volunteers, students and parents of students, anyone can become a member. Learn more about how to qualify for a Silver State Schools Credit Union membership.

EXPLORE OUR OTHER ACCOUNT OPTIONS

Checking

Advantage Checking

Earn dividends on your checking balance and get access to identity theft protection and credit monitoring, plus discounts, rewards, and more.

Checking and Savings

Certificate Accounts

Our Certificate Accounts offer a low-risk investment with competitive dividends better than your average savings account.

Savings

Money Markets

Earn competitive dividends on your savings—and access your money whenever you need it, all with no monthly service fee.

SET YOURSELF UP FOR FINANCIAL SUCCESS

Learn more about how to manage your money and increase your financial wellness.

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Disclosures

1 Compounded and credited monthly using the daily balance method.

2 No more than 6 preauthorized, automatic, or telephone transfers may be made from each share in any month – see complete account disclosures.

3 Compounded and credited monthly. If you elect to have dividends paid to you by check, or transferred to another account, compounding will not occur. See complete account disclosures.

4 Consult a tax advisor.

5 Certain exceptions apply where early withdrawals do not incur penalties, such as for healthcare and purchasing a first home among others. Early withdrawal penalties may apply when withdrawing funds from an SSSCU Certificate Accounts.

6 Qualified expenses include tuition and fees, books, supplies, room and board, etc.

Membership eligibility is required. Must be a Silver State Schools Credit Union member to borrow. Membership at SSSCU requires a savings account with a minimum balance.