Invest & Retire

Start planning your future now.

As a not-for-profit cooperative, USC Credit Union is invested in helping you live your best life, now and after you retire. It’s never too early to plan, and a high-interest Individual Retirement Account (IRA) lets you save for the future safely and securely at your pace. Traditional and Roth IRAs are both good options. Which IRA is right for you? See for yourself – and learn about another way to save for the future, our Coverdell Education Savings Account.

Members: Send a secured message through Online Banking, call us, or visit a branch to open your new account.

MoneySense

Start early and earn a lifetime of compounded interest. Reap the rewards of your Traditional or Roth IRA when you retire.

Benefits include:

  • Savings accounts for every member
  • Comprehensive products
  • Superior financial solutions
  • Personalized service
  • Building your financial security
  • Investment planning services

Traditional IRA

Own your future with an IRA.

Invest for the years ahead with tax-deductible contributions to an individual retirement account. Save a little at a time and watch your contributions grow tax-deferred until you withdraw them. It’s your future. Own it.

  • Pay no monthly service charge
  • Open with $100 minimum balance (Share) or $1,000 (Certificate)
  • Contribute up to $7,000 per year if you’re under 50, $8,000 if over 50

APY is accurate as of 4.18.2024

Starting at:

0.20%

View Rates for tranditional IRAs

Roth IRA

Compound your dividends with a Roth IRA.

Benefit from decades of tax-free, compounded growth with a Roth IRA. When your investments earn interest, that amount gets added to your account balance, compounding your interest and dividends over time.

  • Pay no monthly service charge
  • Open with $100 minimum balance (Share) or $1,000 (Certificate)
  • Contribute up to $7,000 per year if you’re under 50, $8,000 if over 50

APY is accurate as of 4.18.2024

Starting at:

0.20%

View Rates for Roth IRAs

Coverdell Education Savings Account

Tax-free savings for education at every stage.

Education can come with a high price tag. Save for it by opening a tax-free Coverdell Education Savings Account (CESA) in the name of a child up to age 18.3 Unlike 529 plans, CESA funds can be used for elementary, secondary or higher education.

  • Contribute up to $2,000 per year
  • Enjoy tax-free growth and withdrawals
  • Open an unlimited number of CESAs for a designated beneficiary
  • Use funds for tuition, books, supplies, equipment, academic tutoring and special needs services

What’s Right for You?

Compare Investment Accounts
Features
Traditional IRA

Roth IRA

Coverdell Education Savings Account
The right fit for you if…You’re under 70 ½, want a tax-deductible way to save for retirement and anticipate being in the same or lower tax bracket when you begin taking withdrawalsYou’ve reached an age where you want to accelerate your tax-free retirement savings and anticipate being in a higher tax bracket when you begin taking withdrawalsYou want a tax-free way to save for education expenses, from grade school to college
Deposit & Balance Requirements$100 minimum balance (Share), $1,000 minimum balance (Certificate)$100 minimum balance (Share), $1,000 minimum balance (Certificate)$2,000 annual contribution limit, no limit on number of CESAs for a designated beneficiary
Tax BenefitsContributions grow tax-deferred; tax-deductible each year (subject to income limitations if you’re in an employer-sponsored plan)Contributions grow tax-free; not tax-deductible in current tax yearAvailable only to single taxpayers with adjusted gross income (AGI) levels of $95,000 or below and married taxpayers with AGI of $190,000 or below
Dividends/InterestAccrues and compounds monthly, bonus rate on all certificates over $50,000*Accrues and compounds monthly, bonus rate on all certificates over $50,000*
Withdrawals & DistributionsPenalty-free withdrawals taxed as current income after age 59½Penalty- and tax-free withdrawals after age 59½ from accounts open at least five yearsMust be used before a student turns 30 or taxes, fees and penalties will apply
Links to Learn MoreLearn More about Traditional IRAsLearn More about Roth IRAsLearn More about Coverdell Education Savings Accounts

    *USCCU pays a bonus rate on all certificates over $50,000. Please refer to the USCCU Truth-in-Savings disclosures for complete information on account terms and related conditions. Early withdrawal penalties apply. Fees may reduce earnings. Rates may vary after account is opened.

    USC Credit Union is safe, and I can trust to invest my money there.

    -Odette

    • Checking Accounts

      Free ATMs. Free Online Banking. USC Credit Union checking accounts give you perks and plenty of choices from our no-fee basic to interest-bearing accounts.

    • Share Certificates

      Lock in our best yields on your terms. Share savings earn you a guaranteed return and let you choose your deposit amount and for how long.

    • Money Market Savings Account

      Keep your earnings high and your assets liquid. Fund a USC Credit Union Money Market account for as little as $2,500.

    Let’s chat.

    Need help deciding on a retirement plan or other investment? Talk to a financial advisor.

    1AARP Public Policy Institute, July 11, 2022

    2USCCU pays a bonus rate on most certificates over $50,000. Promotional offers do not include a bonus rate incentive. Please refer to the USCCU Truth-in-Savings disclosures for complete information on account terms and related conditions. Early withdrawal penalties apply. IRS penalties may apply for premature withdrawals in addition to an early withdrawal penalty. Please consult your tax professional for more information.

    3Contributions are not tax-deductible and are limited to $2,000 annually. Available only to single taxpayers with adjusted gross income (AGI) levels of $95,000 or below and married taxpayers with AGI of $190,000 or below.