Open an IRA with Nordstrom FCU and watch your money mature as you do. Our retirement savings accounts reward members with dividends above standard savings, and tax advantages.* Plus, signing up is hassle-free — there's no minimum deposit requirement to open an account and no setup fees. Fund your future with Nordstrom FCU.
- Tax-advantaged retirement savings*
- Competitive dividends above standard savings rates
- Traditional and Roth IRA options
- No setup fees
- Low, $20 annual maintenance fee
- No minimum deposit required to open
*Consult a tax advisor.
- Traditional vs. Roth
There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.
- No income limits to open
- No minimum contribution requirement
- Contributions are tax deductible on state and federal income tax*
- Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
- Withdrawals can begin at age 59 ½
- Early withdrawals subject to penalty**
- Mandatory withdrawals at age 70 ½
- Income limits to be eligible to open Roth IRA***
- Contributions are NOT tax deductible
- Earnings are 100% tax free at withdrawal*
- Principal contributions can be withdrawn without penalty*
- Withdrawals on dividends can begin at age 59 ½
- Early withdrawals on dividends subject to penalty**
- No mandatory distribution age
- No age limit on making contributions as long as you have earned income
*Subject to some minimal conditions. Consult a tax advisor.
**Certain exceptions apply, such as healthcare, purchasing first home, etc.
***Consult a tax advisor.