Individual Retirement Accounts (IRAs)

Individual Retirement Accounts (IRAs)

Ensure your future is financially secure by saving for retirement now. An IRA from Northern Skies FCU is a great way to set aside funds and earn a good dividend at the same time, so as your golden years approach, your balance grows. We offer several options to fit your situation, including educational IRAs. There are no maintenance fees so every cent that you contribute will help to build up the savings for your future.


Account Disclosures & Fees

Traditional IRA
  • No setup or maintenance fees
  • Contributions are tax deductible
  • Invest up to $5,000 per year
  • Additional $1,000 "catch up" contribution for members 50 and older
  • Earnings are tax deferred
  • Withdrawals may begin at age 59½
  • Withdraw funds penalty free for higher education or first home
  • Mandatory withdrawals at age 70½
  • NCUA insured up to $250,000

IRA Certificates

With an IRA CD, you can lock in your retirement savings at an even higher interest rate. An IRA Certificate is available for a 12-month term.



See our current rates here.



To open an IRA, you must first open a Regular Share savings (S1) with a minimum deposit of $5 which establishes your "share" in our credit union.



Roth IRA
  • No setup or maintenance fees
  • Contributions are NOT tax deductible
  • Invest up to $5,000 per year
  • Additional $1,000 "catch up" contribution for members 50 and older
  • Withdraw contributions tax free any time
  • Penalty free withdrawals for first home after five years
  • Withdraw funds after age 59½
  • Distributions not required at age 70½
  • Funds may be transferred from existing IRAs to a new Conversion Roth IRA (subject to taxation)
  • NCUA insured up to $250,000

IRA Certificates

With an IRA CD, you can lock in your retirement savings at an even higher interest rate. An IRA Certificate is available for a 12-month term.


See our current rates here.


To open an IRA, you must first open a Regular Share savings (S1) with a minimum deposit of $5 which establishes your "share" in our credit union.

Educational IRA

Set aside money for your child where it can earn interest until they're ready when it's time to start college.


  • Invest up to $2,000 a year for any child under 18 years
  • Contributions are not tax deductible
  • Withdraw funds tax free and penalty free for qualified educational expenses
  • Any unused funds to another child in your family

See our current rates here.


To open an IRA, you must first open a Regular Share savings (S1) with a minimum deposit of $5 which establishes your "share" in our credit union.