Traditional IRA
Plan Your Future, One Step at a Time
A Traditional IRA lets you save for retirement with tax advantages that help your money grow faster. Contributions may be tax-deductible, and earnings grow tax-deferred until withdrawal. Whether you’re just starting or adding to your nest egg, this flexible account puts you in control of your future.2-
Open and fund your IRA independently—no employer needed.
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Contributions grow tax-deferred until you withdraw.2
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Eligible contributions may be deductible—check with your tax advisor.2
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No annual contribution requirement—save at your own pace.
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Federally insured by the NCUA up to $250,0001 for peace of mind.
IRA Share Certificate
Grow Your Retirement Savings with Confidence
Our IRA Share Certificate combines the security of a fixed-term certificate with the long-term benefits of a Traditional IRA. Lock in a fixed dividend rate for a 36-month term and watch your retirement savings grow steadily over time. It’s ideal if you want predictable earnings and a guaranteed rate for the full term.4-
Members must have an active Traditional IRA to open an IRA Share Certificate.
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Funds in the IRA Share Certificate must remain within the IRA—they cannot be withdrawn and placed into a regular savings account.
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Fixed 36-month term with a guaranteed dividend rate and daily compounding, so your savings grow steadily.
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Early withdrawal penalties apply—plan ahead to maximize returns.4
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Federally insured by the NCUA up to $250,000 for IRA accounts.1
FAQs
We offer Traditional IRAs—including traditional IRA Share Certificates—designed to fit different retirement goals and income situations.
IRAs are available only to U.S. citizens or legal residents with valid Social Security Numbers.
Contributions may be tax-deductible, and earnings grow tax-deferred until withdrawal. Because tax rules can change and vary by situation, we recommend consulting your tax advisor for guidance.2
There is no minimum to open an IRA. Annual contribution limits are set by the IRS and vary based on your age. Contributions are optional each year, but yearly maximums still apply. IRS rules and limits may change, so please check with your tax advisor for your specific contribution limits.2
Withdrawals before age 59½ may be subject to IRS taxes and penalties. Certain exceptions may apply depending on your situation, so we recommend consulting your tax advisor for guidance2. If your IRA is held in a Share Certificate, additional early-withdrawal penalties may apply as described in your Truth-in-Savings disclosures4.
You can fund your IRA by transferring money from your OAS FCU accounts, external accounts via ACH, or by setting up payroll deductions5 for steady, automatic savings.
Yes. All IRA funds are federally insured by the NCUA for IRA accounts up to $250,000.1
If you name a beneficiary, your IRA passes directly to them. You can also name a contingent beneficiary as a backup. Without a beneficiary, the account passes to your estate. Distributions to beneficiaries are subject to IRS rules.2
No. IRS rules prohibit borrowing from or using an IRA as loan collateral.
No, OAS FCU currently offers only Traditional IRAs and Traditional IRA Certificates.
However, you can open a Roth IRA through our partner Cetera3.Schedule a free consultation to understand how tax-advantaged strategies—like paying taxes upfront in a Roth IRA—may fit your long-term retirement goals.2,3
Yes — rolling over your 401(k) into an IRA is a smart way to consolidate your retirement savings, preserve tax advantages, and access more investment options.
A direct rollover, where funds move directly from your 401(k) provider to your IRA, is usually the best option because it helps you avoid mandatory tax withholding and potential IRS penalties.2
Contact us and we’ll guide you through the process.