Individual Retirement Account (IRA)
Start planning for a secure retirement with an Individual Retirement Account (IRA) or your child’s education with a Coverdell Education Savings Account (ESA). There are no monthly fees, accounts earn competitive dividends, and you may benefit from tax advantages. Open an IRA or ESA today to start saving for the future!
Benefits of an Argent Credit Union IRA
Tax Advantages
Contributions may be tax deductible, and earnings grow tax-deferred.*
Flexible Options
Choose from Traditional, Roth, or Coverdell ESAs to suit your specific financial goals.
No Deposit Required
Start your retirement savings journey without any initial deposit required.
IRA Details
An Individual Retirement Account (IRA) or Coverdell Education Savings Account (ESA) offers a tax-smart way to save for retirement or college expenses. Open an account today to take the first step toward a secure future.
- Choose from Traditional, Roth, or a Coverdell ESA to suit your financial goals
- No monthly fees
- Earn competitive dividends to grow your savings faster
- Benefit from potential tax advantages
- No initial deposit is required to open a retirement account
Explore Retirement Central
Our Retirement Central is your gateway to retirement planning. Discover a wealth of information, tools, and resources to guide you as you plan for a secure future.
Retirement Central makes it easy to plan for retirement:
- Open an IRA Account online ▶ Start saving for a secure retirement.
- Manage your Account ▶ Make contributions and withdrawals as needed.
- Update Account Beneficiaries ▶ Keep your account information current.
- Learn about life stages ▶ Get advice for every stage of life.
- Use planning tools and calculators ▶ Estimate your retirement needs and plan accordingly.
Membership Features
Online Banking
Manage your money anytime, anywhere. View your balance, pay bills, transfer funds, and more!
Mobile Banking
Bank on the go with secure, 24/7 account access.
Mobile Deposit
Save trips to a branch and deposit checks with your smartphone.
Direct Deposit
Get paid faster by automatically depositing your paychecks into your account.
Zelle®
Securely send and receive money to friends, family, and more with online and mobile banking.
CardValet
Safeguard your debit card from fraud with customized alerts and the ability to set limits.
“I love this bank so helpful whenever needed. I’ve had an account since I was old enough to get a checking account. Never had an issue and always there and friendly when I had questions or needed help with my accounts.. “
– Kayti S.
“Love this credit union. Always loyal to their customers and have earned my business for life. Always take care of those who take care of you!!”
– Brian W.
More Savings Products
Savings
Open an account with a minimum of $5.00 and enjoy the benefits of our full line of products & services.
MMA
Enjoy high-yield savings along with the flexibility of a checking account when you open a MMA.
Certificates
Supercharge your savings and earn a higher interest rate when you open a Certificate.
IRA FAQs
What is an IRA?
An Individual Retirement Account (IRA) is an account that’s designed to help you save for retirement. At Argent Credit Union, we offer Traditional, Roth, and Simplified Employee Pension (SEP) IRAs, which gives you the flexibility to choose the products and services that best suit your financial goals.
With Traditional and SEP IRAs, your funds grow tax-deferred and withdrawals in retirement are taxed as ordinary income. Roth IRAs offer tax-free withdrawals in retirement.
No matter which option you choose, an Argent Credit Union IRA provides competitive dividends and secure growth so you can retire on your terms.
Can I roll over my 401(k) into an IRA?
Yes, you can roll over your 401(k) into an IRA to give you more control over your retirement savings. Our team is here to guide you through the process to ensure a smooth transition.
Where can I find more information about IRAs?
Our team is available to answer your questions and help you choose the best retirement account for your needs. Just stop by a branch or give us a call!
Are my IRA contributions tax deductible?
Whether your IRA contributions are tax-deductible depends on the type of IRA you choose and your income level. With a Traditional IRA, contributions may be fully or partially deductible if you meet IRS income requirements. Roth IRA contributions are not deductible. SEP IRA contributions are tax-deductible for employers but not for employees because only employers make contributions to the plan.
Can I contribute to a Traditional or Roth IRA if I’m covered by a retirement plan at work?
Yes, you can contribute to a Traditional or Roth IRA if you’re covered by a retirement plan at work. However, for Traditional IRAs, being covered by a workplace plan may limit your ability to deduct contributions if your income exceeds certain IRS thresholds. For Roth IRAs, workplace retirement coverage does not affect eligibility, but income limits still apply to determine whether you can contribute.
When can I start withdrawing money from my IRA?
With Traditional and SEP IRAs, you can withdraw funds penalty-free once you reach age 59½, although withdrawals are subject to income tax. With a Roth IRA, earnings can be withdrawn tax-free after age 59½, provided the account has been open for at least five years.
What happens to my IRA if I change jobs?
Unlike a 401(k), a Traditional or Roth IRA is not tied to your employer. You have full control over it regardless of where you work. However, SEP IRAs are employer-sponsored accounts, meaning your employer makes contributions to the account instead of you. Unlike a 401(k), SEP IRA funds are immediately 100% vested, so the money is yours even if you leave your job. If you change employers, you can keep your SEP IRA where it is, roll it over into a Traditional IRA, or transfer it to a new employer’s retirement plan if you are eligible.
Are my IRA funds insured?
Yes, our IRA and Coverdell ESAs are federally insured by the National Credit Union Administration (NCUA) for up to $250,000.
