Skip to Content (custom)

    IRAs

    Get ready for retirement by putting your money to work today.

    Contact Your Local Branch Contact Us

    Traditional IRAs

    A traditional individual retirement account (IRA) is a great tool for those age 72 and under to save money for retirement, tax-deferred. This means that the funds you deposit into a traditional IRA aren't taxed when you deposit them, they're taxed when you take distributions from the account later in life.
     
    • Minimum deposit of $25
    • Earnings grow tax-deferred
    • 100% of contributions are tax-deductible if you are not active in an employer-sponsored pension plan
    • Contribute up to $8,000 per year if you're 50 or older, or $7,000 if your under 50, or 100% of your earned income (whichever is less)
    • Married members filing taxes jointly may contribute an additional $8,000 per year if you're 50 or older, or $7,000 if your under 50, to their spouses' IRA
    • Withdrawals can be made without penalty after age 59-1/2
    Effective January 1, 2015, you may only roll over one IRA distribution in any 12-month period, regardless of how many IRAs you own.
     

    Roth IRAs

    A Roth individual retirement account (IRA), named after late Delaware Senator William Roth, is a another great savings option for those interested in building their retirement funds. Unlike a Traditional IRA, funds deposited into a Roth IRA are taxed when they are deposited, instead of when they are distributed. A Roth IRA is a good choice for members who think their tax rate will be lower when they deposit into their retirement account than when they take distributions from it.
     
    • Minimum deposit of $25
    • Earnings grow tax-free
    • Contributions can be made at any age with earned income
    • Contribute up to $8,000 per year or 100% of your earned income (whichever is less)
    • Married members filing taxes jointly may contribute an additional $8,000 per year to their spouses' IRA
    • Qualified distributions are tax and penalty free
    • No required minimum distribution
    Effective January 1, 2015, you may only roll over one IRA distribution in any 12-month period, regardless of how many IRAs you own.
     

    Coverdell Education Savings Account

    Advancial's Coverdell Education Savings Account (ESA) lets you help your child or family member prepare for college or any stage of education. Money saved grows tax-free and can be used for various educational expenses.

    • Minimum deposit of $25
    • Earnings grow tax-free
    • Make contributions up to $2,000 per year for each child
    • Transfer unused funds to a family member with no penalty
    • Tax-free withdrawals for qualified expenses, including tuition, fees, books, supplies and more

    IRAs and ESAs Compared

    		Traditional IRAsRoth IRACoverdell ESA
    Maximum Annual Contribution$8,000 per year if you're age 50 or older, $7,000 if you're under 50, or 100% of earned income (whichever is less). Married members filing taxes jointly may contribute to their spouses' IRA an additional $8,000 if you're age 50 or older, or $7,000 if you're under 50.
    		$8,000 per year if you're age 50 or older, $7,000 if you're under 50, or 100% of earned income (whichever is less). Married members filing taxes jointly may contribute to their spouses' IRA an additional $8,000 if you're age 50 or older, or $7,000 if you're under 50.
    		$2,000 per child
    Tax Deductible ContributionsNormally 100% deductible
    		Non-deductible
    		Non-deductible
    Earnings Tax Exempt or DeferredDeferredDistributions taken after age 59 1/2 are tax-free, but distributions taken before that may be taxableDeferred or exempt, depending on the amount of the distribution
    Required Minimum DistributionYes, required at age 72NoNo
    Certificates AvailableYesYesYes

    More Investment Choices

    Savings Certificates

    If you’re trying to reach a specific savings goal and have money available for long-term investments, our high-rate savings certificates will help you get the most out of your deposits. Our flexible saving certificate terms are flexible enough to fit within any investment strategy.
    Learn More

    Tools & Resources

    Retirement Calculators

    Now is the time to get ready for your future to ensure you can retire comfortably. Our calculators can help make sure you're properly prepared for your financial future.
    • Based on my age, how much should I save for retirement?
    • Compare the Roth 401(k) to a Traditional 401(k)
    • How much retirement income may my 401(k) provide?
    • I'm retired, how long will my savings last?
    • Retirement income estimator
    • Should I spend my money or invest in an IRA?
    • Social security retirement income estimator
    Do the Math

    Frequently Asked Questions about IRAs
    Once you have opened a savings account, you will have access to cuAnywhere® Online Banking. Here, you can open or apply for other accounts and products.
    Visit joinadvancial.org to get started. Applying for membership online is fast, easy and secure. The process only takes about 10 minutes.

    You’ll need a state issued ID and a credit or debit card to fund the membership savings account. We only require a $5 initial deposit.

    Please note: You must be a U.S. citizen or permanent resident alien and at least 18 years of age to apply online.
    You can apply online, by mail or at your local Advancial branch.
    Advancial is federally insured by The National Credit Union Administration (NCUA), which administers The National Credit Union Share Insurance Fund (NCUSIF). The NCUA, like its banking counterpart, the FDIC, assures Advancial members that their money is safe. Learn more about Share Insurance Coverage.
    Regular membership is for anyone over the age of 18. Money Musketeers membership is for children 12 and under. Dinero Teens membership is for anyone between the ages of 13 and 18.
    All employees of Advancial's select employer groups and their subsidiaries are eligible to join Advancial. This benefit is also open to their immediate family members. Additionally, you are eligible to join if you live, work, worship or attend school in one of these eight Louisiana parishes: Acadia, Avoyelles, Evangeline, Iberia, Lafayette, St. Landry, St. Martin or Vermillion. More information on how to apply for membership can be found here.

    Knowledge Center

    Dos and Don'ts of Credit Repair
    If you've recently been rejected from a credit or loan application, it may be because of your credit score being too low. If that’s the case, there are a number of reasons why that may be.
    February 28, 2023
    person handing over money to pay off debt

    How to Pay Off Your Debt: Snowball vs. Avalanche
    Feeling buried under debt can be stressful, but creating a clear plan can make it much more manageable. Two popular approaches — the snowball method and the avalanche method — offer different paths to becoming debt-free.
    December 15, 2025

    Savings Tips for Every Life Stage
    Whether you’re just starting out in your career or nearing retirement, maximizing your savings may help you reach your goals and overcome any financial bumps in the road.
    April 14, 2023
    happy couple shaking hands with a financial advisor

    When Should I Work with a Financial Advisor?
    It’s easy to wonder if you’re making the right decisions or missing out on opportunities to grow your wealth. That’s why many people consider working with a financial advisor.
    December 15, 2025
    footer wave background