RETIREMENT SERVICES

Roth IRAs

Save for retirement with an investment account where your funds grow tax-free.

Roth IRA

Benefits of a Roth IRA account¹

  • Tax-free earnings: You pay taxes on your Roth IRA contributions2 now and they grow tax-free the longer they are in the account.
  • Tax-free withdrawals: Contribution withdrawals3 that are made after you are 59½ years old are tax- and penalty-free if the account has been opened for at least five years.
  • No age limits: As long as you have earned income under a certain amount, you can open and make contributions to a Roth IRA.
  • Federally insured: Your money at GECU is federally insured by NCUA up to $250,000. 
  • Investment options: You can invest the funds of your Roth IRA into an accessible share IRA account or an IRA certificate account with higher dividends.

Roth IRAs

What is a Roth IRA?

A Roth IRA is a retirement investment account with tax-free growth and withdrawals. With this type of account, you pay taxes on your contributions at your current income tax rate, which may provide potential tax savings if your income tax rate is higher at retirement age. 
Roth IRA

COMPARE ROTH IRA

Find the best Roth IRA account for you!

Share IRA

A Roth individual retirement account with accessibility that is federally insured by NCUA.
A Roth individual retirement account with accessibility that is federally insured by NCUA.
Best for: Members looking to save for retirement with accessibility to funds.

  • Funds are invested in a share savings IRA
  • Funds grow tax-deferred until you start withdrawing at retirement or at age 59 ½
  • Yearly contribution amounts are dependent on your age




Call 915.774.6879 to open an account

Short-term & long-term Roth IRA Certificate Account

A Roth individual retirement account for short- and long-term savings that is federally insured by NCUA.
A Roth individual retirement account for short- and long-term savings that is federally insured by NCUA.

Best for: Members looking to save for retirement with term flexibility.

 

  • Funds are invested in a certificate account IRA
  • Three- to six-month terms and a $2,500 minimum opening deposit
  • 18- to 60-month terms and a $1,000 minimum opening deposit
  • Funds grow tax-free until you start withdrawing at retirement


Call 915.774.6879 to open an account

12-month Roth IRA Certificate Account

A Roth individual retirement account with a competitive dividend rate.
A Roth individual retirement account with a competitive dividend rate.
Best for: Members looking to save for retirement with an affordable opening deposit.

  • Funds are invested in a 12-month certificate account IRA
  • $50 minimum opening deposit
  • Pay taxes now so funds grow tax-free



Call 915.774.6879 to open an account

Bump-up Certificate Account IRA

A Roth individual retirement account for long-term savings that is federally insured by NCUA.
A Roth individual retirement account for long-term savings that is federally insured by NCUA.

Best for: Members looking to save for retirement with a longer term.


  • Funds are invested in a certificate account IRA
  • 18-month term with a $5,000 minimum opening deposit or 60-month term with a $2,500 minimum opening deposit
  • Pay taxes now so funds grow tax-free
  • Bump up4 the dividend rate once during the term of the certificate account IRA

Call 915.774.6879 to open an account
View Our Other Retirement & Investment Accounts

Traditional IRAs

- Make pre-tax contributions and pay taxes at retirement
- Your funds grow tax-deferred
- Invest your money in a share or IRA certificate account
View traditional IRAs

Certificate accounts

- Competitive certificate account dividends
- Term flexibility
- Low-deposit certificate accounts available
View certificate accounts

Money market accounts

- Get higher dividends than with a regular savings or checking account
- Enjoy higher dividend earnings with higher account balances
- Deposit money anytime and get unlimited over-the-counter withdrawal access
View money market accounts
We’re Here to Answer Your Roth IRA Account Questions
  • What is the difference between a traditional IRA and a Roth IRA?
    A traditional IRA accepts pre-tax dollars for contributions. A Roth IRA accepts contributions that you pay taxes on now to help reduce taxes during retirement. Traditional and Roth IRA accounts are insured by NCUA and can be opened by our special services department by calling 915.774.6879.
  • Do I pay less taxes during retirement with a Roth IRA account?
    With a Roth IRA, you pay taxes as you make contributions at your current income tax rate. Your contributions grow tax-free since your tax bill is essentially paid. Your income tax rate could be higher in the future than it is now, meaning that you could potentially be saving in taxes. 
  • Can I roll over5 a traditional IRA into a Roth IRA?
    You can only roll over an IRA into the same type of IRA. A traditional IRA can be rolled over into another traditional IRA. A Roth IRA can be rolled over into another Roth IRA.
  • Do I get a tax deduction for having a retirement plan? 
    You may be able to receive a tax deduction for having a retirement plan. Consult your tax adviser for details.
  • What is the process to roll over a 401(k)?
    A 401(k) can be rolled over when switching careers or at retirement. To discuss your retirement rollover options, you can contact GECU Special Services at 915.774.6879.
  • How long do I have to keep an IRA open? 
    The earlier you open an individual retirement account and the longer you’re making contributions, the more your funds will potentially grow.
  • I am ready to retire. Where should I start?
    To discuss your options, you can contact GECU Special Services at 915.774.6879. They can assist with getting you ready and planning for your retirement years.
  • How long will my retirement savings last? 
    Learn how inflation may impact your retirement savings and how many years your retirement may last with our helpful tips and calculators. Learn more about preparing and living in retirement.
  • Are there Roth IRA contribution limits?
    Roth IRA contribution limits are determined by the current year, age, filing status and income. IRA contribution limits do not apply to rollover contributions or qualified reservist repayments. View the latest Roth IRA contribution requirements.

Disclosures

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Membership eligibility is required.
1To open an IRA, you will need to make an appointment with GECU Special Services.
2Contribution limits vary and depend on your individual income level.
3Withdrawals before you are 59½ may result in a tax penalty and interest penalty, except in the case of education IRAs. Consult your tax adviser for details.
4Option only available for GECU Bump-Up Certificate accounts and GECU Smart Step Certificate accounts. Please see the GECU rate schedule for more details.
5Prior to requesting a rollover from your employer-sponsored retirement account to an individual retirement account (IRA), you should consider whether the rollover is suitable for you. There may be important differences in features, costs, services, withdrawal options and other important aspects between your employer-sponsored retirement account and an IRA.
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