Branch Closure
OnPoint branches and our Contact Center will be closed on Thursday, July 4 in observance of Independence Day. Click here to see a full list of upcoming OnPoint holiday closures.
Save for retirement on your terms.
Whether you're just starting a career or already in retirement, the decisions you make today will help to shape your future.
With a Traditional or even a Roth IRA, the tax benefits may allow your savings to grow more quickly than if they were held in a taxable account. Even if you have an employer-sponsored retirement plan, such as a 401(k), you can still contribute to an IRA each year to further boost your retirement savings. Plus, if you currently don’t have an employer-sponsored retirement plan, an IRA can be an easy way to start saving for your future retirement goals.
Calculate a plan to reach your retirement goals
- Save for retirement
- Spend it or invest in an IRA?
- Retirement income estimator
- How long will my retirement savings last?
Compare IRAs
Best for:
Best for:
Tax implications2
Tax implications2
Age eligibility
(2022 and 2023 contributions)Age eligibility
(2022 and 2023 contributions)Max. regular contributions (2022)
Max. regular contributions (2022)
Max. regular contributions (2023)
Max. regular contributions (2023)
Income limitations3
(2022 tax year)Income limitations3
(2022 tax year)Income limitations3
(2023 tax year)Income limitations3
(2023 tax year)Contribution deadline
Contribution deadline
Traditional IRA1
Best for:
People who expect to retire in a lower tax bracket or if you need to rollover assets from a traditional employer-sponsored plan.
Tax implications2
Tax deferred earnings. Contributions may be tax deductible.
Age eligibility
(2022 and 2023 contributions)None
Max. regular contributions (2022)
$6,000; $7,000 for those over age 50 at year-end (Combined limit for Traditional and Roth)
Max. regular contributions (2023)
$6,500; $7,500 for those over age 50 at year-end (Combined limit for Traditional and Roth)
Income limitations3
(2022 tax year)None
Income limitations3
(2023 tax year)None
Contribution deadline
Tax deadline for year to which contribution applies
Roth IRA1
Best for:
People who anticipate being in a higher tax bracket upon retirement. Contributions are not eligible for a tax deduction, but there are more options for withdrawal.
Tax implications2
Tax deferred earnings. Regular contributions may be withdrawn tax and IRS penalty free. Withdrawals of earnings may be tax free.
Age eligibility
(2022 and 2023 contributions)None
Max. regular contributions (2022)
$6,000; $7,000 for those over age 50 at year-end (Combined limit for Traditional and Roth)
Max. regular contributions (2023)
$6,500; $7,500 for those over age 50 at year-end (Combined limit for Traditional and Roth)
Income limitations3
(2022 tax year)Contribution phase-out ranges:
Single and Head of Household
$129,000 - $144,000
Married, filing jointly
$204,000 - $214,000Income limitations3
(2023 tax year)Contribution phase-out ranges:
Single and Head of Household
$138,000 - $153,000
Married, filing jointly
$218,000 - $228,000Contribution deadline
Tax deadline for year to which contribution applies
Rates
Regular Savings and IRA Savings
Type | Interest rate | Annual percentage yield1 | Minimum balance |
---|---|---|---|
Rates Effective: 06-30-2024 * Rate and annual percentage yield also apply to Teachers Deposit Fund (TDF). 1 Annual percentage yield subject to change. | |||
Type * | Interest rate 0.10% | Annual percentage yield1 0.10% | Minimum balance $5 |
Type IRA savings | Interest rate 0.15% | Annual percentage yield1 0.15% | Minimum balance $0 |
Traditional & Roth IRA Certificates of Deposit
CD term1 | Amount | Interest rate | Annual percentage yield2 | Interest rate with bundle rewards3 | APY with bundle rewards3 |
---|---|---|---|---|---|
Rates Effective: 06-30-2024 1 Subsequent deposits can be made on traditional and Roth IRA certificates of deposit. 2 Annual percentage yield subject to change. 3 Additional products and services are required to qualify for the bundle rewards rate. Please see an OnPoint representative for more information or click here. Booster Rate Certificate of Deposit.You may elect to adjust your rate, based on the rate currently offered for this account, once during the original term of the Certificate of Deposit. Booster rate feature excludes promotional rate offers. Booster Rate applies to Certificate of Deposits opened prior to May 1, 2023. | |||||
CD term1 3 months | Amount $1,000 | Interest rate 1.54% | Annual percentage yield2 1.55% | Interest rate with bundle rewards3 1.79% | APY with bundle rewards3 1.80% |
CD term1 6 months | Amount $1,000 | Interest rate 1.79% | Annual percentage yield2 1.80% | Interest rate with bundle rewards3 2.04% | APY with bundle rewards3 2.06% |
CD term1 12 months | Amount $1,000 | Interest rate 2.28% | Annual percentage yield2 2.30% | Interest rate with bundle rewards3 2.53% | APY with bundle rewards3 2.56% |
CD term1 18 months | Amount $1,000 | Interest rate 2.33% | Annual percentage yield2 2.36% | Interest rate with bundle rewards3 2.58% | APY with bundle rewards3 2.61% |
CD term1 24 months | Amount $1,000 | Interest rate 2.38% | Annual percentage yield2 2.41% | Interest rate with bundle rewards3 2.63% | APY with bundle rewards3 2.66% |
CD term1 36 months | Amount $1,000 | Interest rate 2.42% | Annual percentage yield2 2.45% | Interest rate with bundle rewards3 2.67% | APY with bundle rewards3 2.70% |
CD term1 48 months | Amount $1,000 | Interest rate 2.47% | Annual percentage yield2 2.50% | Interest rate with bundle rewards3 2.72% | APY with bundle rewards3 2.75% |
CD term1 60 months | Amount $1,000+ | Interest rate 2.52% | Annual percentage yield2 2.55% | Interest rate with bundle rewards3 2.77% | APY with bundle rewards3 2.81% |
Been a member for over 20 years. They are great people, always fast and friendly, unlike the big banks.
- L.W.
Let’s make a plan for tomorrow, today.
Planning for your future is important. Thankfully, OnPoint has what it takes to help you craft a comprehensive plan to help you make the most of your financial future.
Schedule a review today
IRA savings accounts FAQs
Visit IRA Retirement Central and click on "Manage an Account". Then choose "Contribute to an Existing Account" and complete the requested information.
Learn MoreGet a Free Consultation
We offer both Traditional and Roth IRA options.
Learn MoreGet a Free Consultation
If you already have an IRA with OnPoint, visit IRA Retirement Central and click on "Manage My Account" and complete the requested information.
If you do not currently have an IRA with OnPoint, visit IRA Retirement Central and click on "Open an IRA" and complete the requested information.
Learn MoreGet a Free Consultation
The earlier you can start to save for retirement the better. IRAs are a great way to plan for the future because of the tax benefits available. (See your tax advisor for information on possible tax deductions.) Your savings will grow faster than in a standard, after-tax savings account.
Learn MoreGet a Free Consultation
For 2020, an individual can contribute up to $6,000 per year to their Traditional and Roth IRAs combined. Individuals who reached age 50 by December 31 of that same year can contribute an additional $1,000 per year, for a total of $7,000.
Learn MoreGet a Free Consultation
For IRA details and to open an IRA or make transactions on an existing IRA, visit OnPoint IRA Retirement Central.
See all FAQs
What’s your bundle?
With over 2,904 ways to save more with Bundle Rewards, you could be eligible to receive special benefits and discounts.
It’s easy to qualify—learn how
Health savings accounts
HSA Checking Accounts provide tax-deductible contributions and tax-free withdrawals when used for qualifying medical expenses.
Learn how to start
Ready to get started?
Get started today.
Explore your options with OnPoint.
Stop by an OnPoint branch.
Find a nearby location or ATM
Disclosures
1 Additional account details may apply.
2 See your tax advisor for information.
3 Please view IRS Publication 590 for more information about income limitations at www.irs.gov or see your tax advisor for more information.
Note: Email should not be used to share important or sensitive information.
The security and privacy of your information is important to us. When communicating with us via email please do not send any information that is considered confidential or sensitive in nature. If you need to communicate any personal information (account numbers, social security number, etc.) please feel free to call the number listed in my profile or contact OnPoint Member Services at 503.228.7077 or 800.527.3932.
You are leaving OnPoint Community Credit Union.
The website you are about to visit is the responsibility of the party providing the site. Any transactions you enter into through this third-party site are solely between you and that vendor, merchant or other party. OnPoint’s Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of this site.
Cancel Accept