IRAs
Get ready for retirement by putting your money to work today.
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
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
IRAs and ESAs Compared
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.
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
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’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.
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.
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