Nationwide ATMs

You can access your accounts at any CO-OP ATM nationwide.

Learn More ›
Individual Retirement Accounts (IRAs)

Individual Retirement Accounts (IRAs)

They say you can't get to where you're going if you don't know the way. Plan your retirement now by opening an IRA from Old West FCU so you can start saving now.

We offer several different retirement options, each with its own individual advantages, including SEPs for self-employed individuals. Let our knowledgeable staff help you find the plan that best fits your needs, so you can relax knowing you have a plan for the future.

Print Share
Summary
  • Build retirement savings
  • Earn dividends on entire balance
  • No annual fee or set up charges
  • Traditional, Roth, and SEP IRAs available
  • Tax deductible and tax deferred options
  • Penalty for early withdrawal

See current rates here.

Types of IRAs

Below are brief summaries of the IRA options offered by Old West FCU. If you have more questions, please let us know. We can help you set up the right retirement plan for you!

Traditional IRA

  • Dividend earnings are tax deferred until withdrawal
  • Contributions are tax deductible*
  • Maximum contribution of $5,000 per year
  • Additional $1,000 "catch-up" contribution for ages 50 and up
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals begin at age 70½

Roth IRA

  • Dividend earnings are tax free
  • Contributions are NOT tax deductible*
  • Maximum contribution of $5,000 per year
  • Additional $1,000 "catch-up" contribution for ages 50 and up
  • Principal can be withdrawn penalty-free
  • Withdrawals of earnings can begin at age 59½
  • Early withdrawals subject to penalty**
  • No mandatory withdrawals

SEP IRA

  • Help employees save for retirement
  • Ideal for self-employed individuals
  • Higher contribution limits than other IRAs
  • Employer contributions may be tax deductible*
  • Employee funds are tax deferred
  • Lower cost than other commercial IRA plans

*Check with your tax advisor regarding your individual circumstances.

**Certain exceptions apply. Non-penalized withdrawals include healthcare, purchasing first home, etc.

    Helpul Links

    Click below to learn more about some IRA options.