Roth Money Fund IRA
A Roth Money Fund IRA helps you build savings you can rely on later. With flexible contributions and the potential for tax-free withdrawals, it supports long-term financial health without limiting access today. It’s a balance of freedom and future security.
IRA accounts can be opened at a Financial Health Center or by calling 800-688-7228.
What sets our Roth Money Fund IRA account apart
If you want flexibility now with tax-free withdrawals later, a Roth Money Fund IRA might be the right call. Compared to Traditional IRAs, it offers different tax advantages and greater long-term withdrawal benefits.
Provides a means for saving for retirement without having funds locked up for a set amount of time.
- No minimum opening deposit required
- Earnings are tax-free
- No age limit on contributions
- No required distribution at age 73
- Dividends paid quarterly
- Penalty-free early withdrawal options including first-time home purchase
- Funds federally insured up to $250,000
Account holders must have earned income or alimony in order to open this type of account.
Create more freedom in your future
Visit a Financial Health Center to start a Roth Money Fund IRA and build savings that support your long-term financial health. With flexibility today and benefits later, you can move forward with confidence.
Dividends and Withdrawals
Tiered dividends
You can open a Roth Money Fund IRA with no minimum opening deposit and no balance requirement. Earn higher dividends as your balance grows. Account holders must have earned income or alimony in order to open and make annual contributions to a Roth Money Fund IRA.
Tiered dividends are paid quarterly on any balances. Dividends are calculated using the daily balance method. Your balance tier determines the daily dividend rate and annual percentage yield (APY) on the daily account balance. The rate is variable and may change at any time after the account is opened. Fees could reduce earnings.
Options for withdrawal
With a Roth IRA, contributions (but not earnings) can be withdrawn penalty- and tax-free at any time, even before age 59 1/2. Five tax years after the first contribution, you can withdraw up to $10,000 of your earnings penalty-free to pay for qualified first-time home buyer expenses. And if you are five years past your first contribution and over age 59 1/2, you can make any withdrawal tax-free. Finally, no withdrawals are required during the account holder’s lifetime. This means that if you do not need the money, you can allow it to continue to grow well over the required distribution age of 73 required by a traditional IRA.
Substantial penalties for early withdrawal will apply except for those specifically permitted under IRS regulations. If you wish to make a withdrawal, check to determine whether you may do so penalty-free or if you will face an early withdrawal penalty.
Get help from Credit Human
Opening your IRA is easy—we’re here to help. The type of individual retirement account you choose can significantly affect your long-term savings. Be sure to understand your IRA options to choose the best one for you. For help in understanding your options, or to open an IRA, call our Member Service Center toll free at 800-688-7228.
Credit Human deposit accounts are federally insured through the NCUA
As a Credit Human member, your deposits—checking, savings, certificates and IRAs—are federally insured up to $250,000 by National Credit Union Administration (NCUA). Similar to deposit insurance coverage offered by the FDIC for banks, the NCUA operates the National Credit Union Share Insurance Fund (NCUSIF) to protect accounts at federally insured credit unions.
Account type and ownership factor into coverage amounts. Read up on NCUA Share Insurance below to maximize your coverage, estimate your coverage online or call our Member Service Center for further information on your insured funds.
