Individual Retirement Accounts
Invest in a more secure future, one smart step at a time.
Why Open an IRA?
Competitive Dividends
Traditional, Roth, Coverdell ESA
No Setup or Maintenance Fees
Purchase Certificates Within IRA
Savings Insured by NCUA
Competitive Dividends
Traditional, Roth, Coverdell ESA
No Setup or Maintenance Fees
Purchase Certificates Within IRA
Savings Insured by NCUA
What is an Individual Retirement Account (IRA)?
Growth for Tomorrow. Starting Today.
With a TVFCU Individual Retirement Account (IRA), you can grow your savings tax-advantaged while building a secure financial future. We offer flexible options to help you save for what’s next.
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Compare IRAs
Choosing the right IRA depends on your financial goals — tax-deferred growth now with potential deductions or tax-free withdrawals in retirement for greater flexibility later. Compare these options below.
Traditional IRA
Save for retirement with tax-deferred growth, allowing you to deduct contributions now and pay taxes later.
Roth IRA
Grow your retirement savings tax-free, with contributions made after taxes and qualified withdrawals completely tax-free.
Coverdell ESA
Save for future education expenses, including K-12 and higher education costs, with tax-free growth and withdrawals for qualified expenses.
Traditional IRA | Roth IRA | Coverdell ESA | |
|---|---|---|---|
| Income Limit to Open |  | | |
| Minimum Contribution | No minimum contribution requirement | No minimum contribution requirement | No minimum contribution requirement |
| Tax-Deductible Contributions1 | | | |
| Tax-Deferred Earnings | Earnings are tax deferred until withdrawal (when usually in lower tax bracket) | Earnings are 100% tax free at withdrawal1 | Withdrawals are tax-free and penalty-free when used for qualified education expenses1 |
| Early Withdrawal Penalty2 | | | |
| Mandatory Distributions | Mandatory annual withdrawals beginning at age 73 | No mandatory distribution age | The money must be withdrawn by the time individual turns 30 |
| Other Notes | Penalty-free withdrawals can begin at age 59½ | No age limit on making contributions as long as you have earned income. Principal contributions can be withdrawn without penalty. | Designated beneficiary must be under 18 when contributions are made. |
Traditional IRA
| Income Limit to Open |  |
|---|---|
| Minimum Contribution | No minimum contribution requirement |
| Tax-Deductible Contributions1 | |
| Tax-Deferred Earnings | Earnings are tax deferred until withdrawal (when usually in lower tax bracket) |
| Early Withdrawal Penalty2 | |
| Mandatory Distributions | Mandatory annual withdrawals beginning at age 73 |
| Other Notes | Penalty-free withdrawals can begin at age 59½ |
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Roth IRA
| Income Limit to Open | |
|---|---|
| Minimum Contribution | No minimum contribution requirement |
| Tax-Deductible Contributions1 | |
| Tax-Deferred Earnings | Earnings are 100% tax free at withdrawal1 |
| Early Withdrawal Penalty2 | |
| Mandatory Distributions | No mandatory distribution age |
| Other Notes | No age limit on making contributions as long as you have earned income. Principal contributions can be withdrawn without penalty. |
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Coverdell ESA
| Income Limit to Open | |
|---|---|
| Minimum Contribution | No minimum contribution requirement |
| Tax-Deductible Contributions1 | |
| Tax-Deferred Earnings | Withdrawals are tax-free and penalty-free when used for qualified education expenses1 |
| Early Withdrawal Penalty2 | |
| Mandatory Distributions | The money must be withdrawn by the time individual turns 30 |
| Other Notes | Designated beneficiary must be under 18 when contributions are made. |
Compare Accounts
1Subject to some minimal conditions. Consult a tax advisor.
2Certain exceptions apply, such as healthcare, purchasing first home, etc.
3Consult a tax advisor.
What is a Coverdell ESA?
Help Their Dreams Grow, Tax-Free
Make college planning easier by starting a Coverdell Education Savings Account (ESA) early. Enjoy tax-free growth and withdrawals while earning competitive dividends for qualified education expenses.
- Set aside funds for tuition, books, and other qualified costs.
- Earnings grow tax-free, and withdrawals for education expenses are penalty-free.
- Just $25 minimum deposit required, with no setup or annual fees.
- Annual contributions are capped at $2,000 per child with income eligibility restrictions.
- Funds must be withdrawn by the beneficiary’s 30th birthday.
Open an IRA
How to Get Started
Choosing an IRA can seem complex, but TVFCU and Tennessee Valley Investment Advisors work to make the process easy, so you can focus on your goals.
- Browse the services and offerings from Tennessee Valley Investment Advisors.
- Review your situation with our handy retirement financial calculators.
- When you're ready, reach out to our experts to schedule a free consultation.
Need More Investment Planning Advice?
Tennessee Valley Investment Advisors (TVIA) is dedicated to providing exceptional service to help members work toward achieving their personal, professional, and financial aspirations. Click below to connect with these experts.
Find Out MoreFrequently Asked Questions
Both traditional and Roth IRAs offer distinct advantages. The key difference lies in when those benefits are realized. Traditional IRAs may provide immediate tax relief through deductible contributions, whereas Roth IRAs are structured to offer greater tax advantages at the time of retirement, thanks to tax-free withdrawals.
Ultimately, the decision comes down to your unique situation. We strongly recommend speaking with our investment advisors.
For 2025, the annual contribution limit is $7,000 (or $8,000 if you’re age 50 or older). These limits may change annually, so it’s a good idea to check with a financial advisor or visit the IRS website for the most current guidelines.
You can start making penalty-free withdrawals from a Traditional IRA at age 59½, although taxes may still apply. Roth IRAs allow tax-free and penalty-free withdrawals of contributions at any time, but earnings can only be withdrawn tax-free if the account has been open for at least five years and you’re 59½ or older.
IRA Certificates Rates
| Term | Dividend Rate | Annual Percentage Yield (APY) |
|---|---|---|
| 6 Months* | 4.11% | 4.15% |
| 12 Months* | 3.94% | 4.00% |
| 18 Months* | 3.94% | 4.00% |
| 24 Months* | 3.70% | 3.75% |
| 30 Months* | 2.97% | 3.00% |
| 60 Months* | 2.97% | 3.00% |
| Dividend Rate | 4.11% |
|---|---|
| Annual Percentage Yield (APY) | 4.15% |
| Dividend Rate | 3.94% |
|---|---|
| Annual Percentage Yield (APY) | 4.00% |
| Dividend Rate | 3.94% |
|---|---|
| Annual Percentage Yield (APY) | 4.00% |
| Dividend Rate | 3.70% |
|---|---|
| Annual Percentage Yield (APY) | 3.75% |
| Dividend Rate | 2.97% |
|---|---|
| Annual Percentage Yield (APY) | 3.00% |
| Dividend Rate | 2.97% |
|---|---|
| Annual Percentage Yield (APY) | 3.00% |
*$1,000 minimum opening deposit required. A penalty applies for early withdrawal.
Early withdrawal penalties may apply. Unless otherwise noted: Accounts with a term of one year or less may incur a penalty of the greater of seven days’ dividends on the withdrawn amount, all dividends earned up to 90 days, or $25.00. Accounts with a term longer than one year may incur a penalty of the greater of seven days’ dividends on the withdrawn amount, all dividends earned up to 180 days, or $25.00. The penalty may be calculated based on the rate at the time of withdrawal and, if necessary, deducted from the principal.
Tiered IRA Rates
| Deposit Amount | Annual Percentage Rate (APR) | Annual Percentage Yield (APY) |
|---|---|---|
| Less than $10,000 | 2.47% | 2.50% |
| $10,000 - $24,999 | 2.52% | 2.55% |
| $25,000 - $49,999 | 2.67% | 2.70% |
| $50,000 - $99,999 | 2.91% | 2.95% |
| $100,000 - $149,999 | 2.96% | 3.00% |
| $150,000 - $199,999 | 3.01% | 3.05% |
| $200,000+ | 3.06% | 3.10% |
| Annual Percentage Rate (APR) | 2.47% |
|---|---|
| Annual Percentage Yield (APY) | 2.50% |
| Annual Percentage Rate (APR) | 2.52% |
|---|---|
| Annual Percentage Yield (APY) | 2.55% |
| Annual Percentage Rate (APR) | 2.67% |
|---|---|
| Annual Percentage Yield (APY) | 2.70% |
| Annual Percentage Rate (APR) | 2.91% |
|---|---|
| Annual Percentage Yield (APY) | 2.95% |
| Annual Percentage Rate (APR) | 2.96% |
|---|---|
| Annual Percentage Yield (APY) | 3.00% |
| Annual Percentage Rate (APR) | 3.01% |
|---|---|
| Annual Percentage Yield (APY) | 3.05% |
| Annual Percentage Rate (APR) | 3.06% |
|---|---|
| Annual Percentage Yield (APY) | 3.10% |
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