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 saving 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 daily 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 0.90%¹
Use budget tools to set and meet savings goals
Withdraw money whenever, no fees
Use as overdraft protection² for a Civic Bonus Checking Account

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Rates

IRAs

0	Account type	Rate	APY	Min. deposit to open
1	Roth IRA	2.20%	2.22%	$25
2	Traditional IRA	2.20%	2.22%	$25
3	SEP IRA	2.20%	2.22%	$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 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 Civic membership required to open account. Minimum deposit is $25. A service fee of $1 will be charged each month the IRA balance is below $25 at statement date. Fees could reduce the balance on the account. The advice provided is for informational purposes only. Consult a financial advisor or tax professional for additional guidance. This is a Share IRA account and is not an investment account.