Senior man happily enjoying his retirement by surfing, thanks to his IRA retirement account with Civic.

IRA Overview

Save for retirement on your terms with a Roth IRA, SEP IRA, or Traditional IRA savings account.

Growth

Tax-deferred or tax-free¹ retirement savings

Options

IRA retirement accounts that match your goals

Save

Retirement IRA accounts to save in all the ways

What are IRAs?

An Individual Retirement Account is a savings account that allows you to save for retirement with tax-free contributions or withdrawals, depending on the account.

Use your IRA as a supplement to an employer-sponsored 401(k) or as a primary retirement account if you’re just starting out. They’re also good for stashing away a little extra to catch up when you’re close to retiring. Save on your own terms, so you can enjoy retirement on your own terms too.

A grandfather fishing with his grandson off the dock at his favorite lake in North Carolina.

Roth IRA

Retire strong, tax-free

Open a Roth IRA savings account for retirement so your contributions and dividends can grow tax-free.

$25 minimum deposit and monthly balance to avoid maintenance fee
Dividends are compounded monthly and paid out monthly
Ongoing deposits to your Roth IRA are not required
Annual contributions up to $7,000, or $8,000 for members 50+ years old

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Traditional IRA

Retirement savings with tax advantages

$25 minimum to open
Contribute up to $7,000 per year
Get tax-deferred growth
Full or partial tax deduction for contributions

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Business owner checking her Civic's SEP savings account on mobile device.

SEP IRA

Be an entrepreneur and be prepared for retirement! An SEP IRA uses pre-tax contributions to help you and your employees save for retirement.

Employers may contribute up to 25% of each eligible employee’s income
$25 minimum to open an account
Dividends compound daily and are paid out monthly
Ongoing contributions are not required

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Select Savings Account

The Select Savings Account helps you set savings goals.

Savings account earns deposit dividends of 0.25%
Use budget tools to set and meet savings goals
Withdraw money whenever
Use as overdraft protection for a Civic Bonus Checking Account

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Older couple checking their Civic IRA Certificate growth on their tablet.

IRA Choice Certificates

Steady, guaranteed retirement savings IRA Choice Certificates help you save for retirement on your terms with Traditional IRA and Roth IRA options.

Minimum deposit of $250
Reinvested dividends for maximum savings
Flexible terms from 6 to 60 months
Fixed, competitive rates

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Rates

IRAs

0	Account type	Rate	APY	Min. deposit to open
1	Roth IRA	2.96%	3.00%	$25
2	Traditional IRA	2.96%	3.00%	$25
3	SEP IRA	2.96%	3.00%	$25

APY = Annual Percentage Yield

Open your IRA

Apply for an IRA through our partner, Ascensus, and a Civic representative will be in touch and work with you through the process.

For the best member experience, apply using online banking on a desktop or laptop computer.

Join Civic

Apply in online banking

Contact our Experience Center

You know the details matter (and you are in good company)

Here are a few FAQs

What is an Individual Retirement Account?

An IRA is a personal savings account that allows you to save for retirement with tax-free contributions (Traditional IRA) or with tax-free withdrawals (Roth IRA).

Roth IRA vs. Traditional IRA – which is better?

The right IRA is up to you. With a Traditional IRA, your contributions are tax-deductible, but you’ll be taxed on your distributions. With a Roth IRA, distributions are tax-free, but your contributions are taxed.

Are there reasons I shouldn't open a Roth IRA?

Roth IRAs are a smart choice for many people, but you may want to talk to your financial adviser to figure out if it is the right IRA for you.

View All FAQs

1 APY = Annual Percentage Yield. Civic membership required; minimum deposit $25. Rates subject to change at discretion of Civic Credit Union Board of Directors. Service fee of $1 each month balance is below $25 at statement date. Fees could reduce balance on account. Individual Retirement Accounts offered by Civic are insured up to applicable limits by the National Credit Union Share Insurance Fund. IRA contributions, distributions, and tax treatment are governed by Internal Revenue Service rules, which may change. Civic does not provide tax, legal, or investment advice. Consult a qualified tax or financial advisor regarding your specific situation before opening or funding an IRA.