Advantis IRAs help you save for retirement, and potentially save on taxes, too.
A 401(k) account through your employer isn’t the only solution available to you to save for retirement. Our Individual Retirement Accounts (IRAs) let you choose from a variety of solutions to help you maximize your retirement savings and enjoy potential tax advantages and tax savings.
With an Advantis IRA you can:
Save for retirement with competitive interest rates
Choose the way you prefer to save with an IRA savings account, IRA certificate of deposit, or a combination of both
Grow your earnings tax-deferred until withdrawn
Get potential tax deductions on your Traditional IRA contributions
Potentially get distributions after retirement from your Roth IRA that are tax-free
Keep your funds secure – your deposits are federally insured by the National Credit Union Administration
Rollover funds from another qualifying plan to an Advantis IRA
See how Advantis helps you earn more and save more for your retirement:
Rates Effective 09/29/2020
Annual Percentage Yield (APY)1
High-Growth IRA Savings
$0 - $24,999
$25,000 - $49,999
$50,000 - $99,999
$100,000 or more
1The APY may change after account opening. Minimum amount to open an IRA Savings or a Premium IRA Savings Account is $5. Transaction restrictions apply. IRA Plan closure fee may reduce earnings.
Save for retirement, and defer your taxes. Traditional IRA earnings grow tax-deferred until you begin to withdraw them. But, your Traditional IRA contributions are tax deductible every year that you invest the maximum allowed by law. Tax deferment can be valuable if you expect to pay significantly lower taxes after you retire (and begin drawing on your funds).
You’re qualified to open and contribute to a Traditional IRA for your High-Growth IRA Savings if you receive any taxable compensation during the calendar year, and you’re not yet 72 years of age at the end of that same calendar year.
Enjoy financial flexibility and tax-free income in your retirement. When you use a Roth IRA as the vehicle for you High-Growth IRA Savings, you may be able to withdraw regular contributions tax-free, without penalty at any time.** Roth IRA earnings are tax-deferred: You pay no taxes on your withdrawals if your account has been open for five tax years and if you’re withdrawing for a qualified reason.
The Roth IRA is often recommended for entry-level and mid-level professionals who still qualify for a lower tax bracket. At retirement, many investors move their Traditional or other IRA products to a Roth IRA to maximize savings.
Invest in education the smart way. Education IRAs (also known as Coverdell ESAs) are an empowering way to save for elementary, secondary, and college education expenses like tuition and fees, books and supplies, uniforms, and in some cases, room and board.
Unlike a 529 plan, parents, guardians, and students can use Education IRA earnings to cover costs at most public, private, and parochial schools. If you choose to open a High-Growth IRA Savings and pair it with an Education IRA, you can make non-tax-deductible contributions and invest cash for future and, potentially, tax-free education-related withdrawals.*
Transfer or rollover other retirment savings to our High-Growth IRA
Reduce your exposure to market volatility.
By shifting market investments into High-Growth Savings programs, you can reduce your risk exposures and better protect your hard-earned nest egg.
Many members approaching or enjoying retirement move other IRA, 401(k), and Solo(k) funds into our High-Growth IRA Savings. This proves a satisfying choice when concern over significant market losses becomes a risk too big to bear.
Other members appreciate this option when changing jobs or in response to change in family/marital status.
We recommend you consult with a Certified Professional Accountant (CPA) to help you decide if a rollover or a transfer is the better option for you. Once you’ve made your decision, we make it simple and easy to open (or boost) your High-Growth IRA Savings.
† The tax deduction for traditional IRA contributions may be phased out based on your modified adjusted gross income if you or your spouse actively participate in an employer-sponsored retirement plan. For all IRAs, contribution limits and other restrictions apply. The information on IRAs contained in this email and on our website is general in nature and is not intended as tax advice. Contact your tax advisor if you need guidance on selecting the best IRA option for you. Federally insured by NCUA. Consult your tax advisor for specific tax information. *You must designate if you want your contribution to apply for the prior tax year.