ECU Credit Union

Individual Retirement Account (IRA)

An Individual Retirement Account (IRA) is an account that can provide tax benefits when used to save money for retirement.  Whether you are just starting to plan for retirement, changing careers, or searching for ways to maximize your lifestyle during retirement, we have options to fit your needs.

ECU offers three types of IRAs:

Traditional IRA

A traditional IRA is a way to save for retirement that gives you tax advantages. Contributions you make to a traditional IRA may be fully or partially deductible, depending on your circumstances, and generally, amounts in your traditional IRA (including earnings and gains) are not taxed until distributed.

This information is not intended as tax advice. Please consult a tax professional. 

Additional information about IRAs can be viewed through the links below:

IRS Publication 590-A - Contributions to Individual Retirement Arrangements (IRAs)

IRS Publication 590-B - Distributions from Individual Retirement Arrangements (IRAs)

ECU Credit Union IRA program details
  • Minimum to open: Savings Plan: $25
  • Minimum to earn dividends: Savings Plan: $0.01
  • Monthly Service Fee: Savings Plan: $5.00 per month if the account is inactive for 12 consecutive months
  • Transaction limits: Savings Plan: None but may subject to IRS penalties, see IRS Publication 590-B
    Transaction Fees: Savings and CD plans: $25.00 outgoing transfer fee, see Schedule of Fees
  • NCUA Federally Insured: Insured up to $250,000 per individual depositor
  • Interest Rates: Savings plan: Tiered interest rates, rate is determined by average account balance, compounds and pay quarterly. If account is closed before the quarterly posting of accrued dividends, no dividends will be paid. For current rate, see Current Deposit Rates.
  • Statements are issued quarterly: you may sign up for e statements through Virtual Branch
  • Required Minumum Distribution: Must begin by April 1 of the year following the year in which you reach age 72.

Individual Retirement Account (IRA) Rates

Average Daily Balance
Annual Percentage Yield (APY)*
Dividend Percentage Rate
$50,000 and Over
$25,000 - $49,999.99
$5,000 - $24,999.99
$0 - $4,999.99
*Rates are quoted as Annual Percentage Yield (APY). Dividends will be computed on the average daily balance with quarterly posting and compounding.

If account is closed prior to the posting of accrued dividends no dividends will be paid. Dividends are based on the Credit Union's earnings at the end of a dividend period. All rates are subject to change without notice.

Convenience at your fingertips!

Your ECU Visa® Platinum card can be used to purchase that special outfit, to take that well-earned vacation or to manage your everyday expenses, and you can earn ScoreCard® Reward points with every transaction.  Whatever your needs are, our Visa Platinum card can help you achieve your financial goals.

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  • Low 2.99% APR* Introductory Rate
  • Fixed Rate
  • No Annual Fee
  • No Cash Advance Fee
  • Accepted anywhere with Visa logo

*Qualification is based on individual creditworthiness and our underwriting standards. Rates, terms and conditions are subject to change at any time without notice.

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