Individual Retirement Accounts

Get ready for your Golden Years.

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Craft a Retirement Savings Strategy

See where your retirement savings stand and how you can best save.

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All that free time. All those things you want to do.

Your retirement bucket list takes up about 10 pages - and is growing longer by the day. The best way to make to make it all happen? Build up your savings with a tax-advantaged individual retirement account. 

Choose a traditional or roth IRA

Enjoy a range of tax benefits

Grow your funds with our certificates

No maintenance fees

You'll want to take a deep dive into the details

Would you like an income tax deduction every year you make an IRA contribution? Or would you prefer tax-free withdrawals when retirement comes? These are just a few things to consider when deciding on a traditional or roth IRA. Want to know more? Keep reading - and then contact a helpful CommonWealth One representative with any questions.

Traditional IRA

  • Save money through either savings accounts or share certificates
  • No minimum deposit for savings accounts
  • Share certificates with minimum deposit requirements starting as low as $50
  • Terms range from 6 months to 5 years
  • Contribute up to $7,000 per year ($8,000 if over age 50)
  • Potential tax deductions for each year you contribute to your traditional IRA
  • Dividends grow tax-free; withdrawals are taxed as regular income
  • You must make withdrawals by age 73
  • Consult a CommonWealth One retirement planning professional or your financial advisor for more information

Roth IRA

  • Save money through either savings accounts or share certificates
  • No minimum deposit for savings accounts
  • Share certificates with minimum deposit requirements starting as low as $50
  • Terms range from 6 months to 5 years
  • Contribute up to $7,000 per year ($8,000 if over age 50)
  • No annual tax deductions, but dividends grow tax-free
  • All withdrawals are tax-free
  • No mandatory withdrawal age
  • In some cases, roth IRA funds can be used for higher education and home-buying costs
  • Consult a CommonWealth One retirement planning professional or your financial advisor for more information
Great rates to get you started on your goals.
15 Month IRA
as high as
2.33
% APY
Open an Account
36 Month IRA
as high as
3.51
% APY
Open an Account
60 Month IRA
as high as
4.08
% APY
Open an Account
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The credit union provides exceptional service and competitive rates on savings accounts, CDs, and IRAs. Thanks to my savings, I've been able to make a down payment on my house and buy a car.

Carol
Member Since 1973

CommonWealth One Federal Credit Union is a full-service financial institution with branches in Northern Virginia, Maryland and Washington D.C.

Disclosures
IRA Account insured separately up to $250,000 
 
IRA Certificates - Annual Percentage Yield (APY). Rates are subject to change without notice. Dividends calculated daily, paid quarterly. Penalties may be imposed for early withdrawal. Fees may reduce earnings. The IRS regulates an individual’s maximum IRA annual contributions; please consult with a tax advisor. IRA Certificates - Annual Percentage Yield (APY). Rates are subject to change without notice. Dividends calculated daily, paid quarterly. Penalties may be imposed for early withdrawal. Fees may reduce earnings. The IRS regulates an individual’s maximum IRA annual contributions; please consult with a tax advisor.