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Individual Retirement Accounts

Individual Retirement Accounts (IRAs) were developed to give members a chance to adequately plan for retirement.  IRAs can also be used to save for educational expenses. There may also be certain tax benefits available to you with certain IRAs.  Always consult your tax advisor regarding tax benefits.

Denver Community Credit Union offers three types of IRAs to suit your needs.  Those Individual Retirement Accounts include Traditional IRAs, Roth IRAs and Coverdell Education Savings Accounts (also known as Educational IRAs).  Depending on your needs, you may invest in either the IRA Money Market, or in an IRA Certificate of Deposit (CD) Accounts.  What is the difference between an IRA Money Market and an IRA CD?  IRA Money Market Accounts can be opened without a minimum balance and do not have set terms (like 3 months or 12 months), and IRA CD Accounts can be opened with as little as $100.  CDs have higher dividend rates in exchange for agreeing to set a term.

Our dividend rates may vary.

Compare IRA's

Traditional IRA

“A Traditional IRA is a way to save for retirement that gives you tax advantages.” —Internal Revenue Service

Contributions into a Traditional IRA are made with pre-tax income.  However, when you make a withdrawal, those funds (income and earnings) are subject to income tax.   Federal withholding penalties may be waived for certain circumstances.  Traditional IRA funds may be withdrawn without IRS penalty if used for higher education purposes or for first-time home purchases.  With a Traditional IRA, it is important to be mindful of the various requirements and regulations associated with contributions and distributions.

*Always consult a tax advisor when considering withdrawals or exceptions.

Roth IRA

Roth IRAs are contributed with income that has already been taxed.  No taxes are imposed on earnings when withdrawals are made after five years.  Withdrawals in the initial five years will have income taxes assessed on earnings, but not on contributions.  Like the Traditional IRA, certain exceptions may apply to the assessment of income taxes on earnings and contributions. Though the Roth IRA differs from the Traditional IRA, it may be a powerful tool for retirement planning.

*Always consult a tax advisor when considering withdrawals or exceptions.

Coverdell Education Savings Account

Formerly known as an Education IRA, this account can be made for members with beneficiaries under the age of 18.  It is used to save money for future education expenses.  The maximum contribution is $2,000 beneficiary per year.  Dividend earnings are tax free.  Withdrawals are also tax free when made for qualified educational expenses.  Contributions, however, are not tax deductible.

Rates: Accurate as of 11/1/2018

Our IRAs can be set up with a Certificate of Deposit or Money Market Account.  Investments made with Denver Community Credit Union are federally insured up to $250,000.


Product Term Compounded/Credited Minimum to Open Minimum Bal. to Earn APY Dividend Rate (%) Annual Percentage Yield
Health Savings Account, IRA, Roth IRA, & Coverdell Tiered Money Market N/A Monthly N/A

Below $2,000



$75,000 and up










Term Compounded/Credited $100.00+ Dividend Rate (%) $100.00+ Annual Percentage Yield (%) $100,000.00+ Dividend Rate (%) $100,000.00+ Annual Percentage Yield (%)
3 months Monthly 1.552 1.56 N/A N/A
6 months** Monthly 1.737 1.75 N/A N/A
12 months Monthly 2.031 2.05 N/A N/A
24 months Monthly 2.343 2.37 N/A N/A
36 months*** Monthly 2.597 2.63 2.694 2.73
48 months Monthly 2.733 2.77 2.830 2.87
60 months Monthly 2.908 2.95 3.005 3.05
Special Certificate
18 Months**** Monthly 2.725 2.76 2.822 2.86

*$100 minimum deposit is required to earn dividends on Certificates of Deposits and IRA Certificates of Deposits.

**Deposits of $25 or more (including payroll deduction deposits) can be added to the 6-11 month term certificates at any time. Roth Conversion IRAs excluded.

***Contribution and rollover deposits are allowed at anytime when invested in a IRA CD with any term of 36 months or greater with a minimum transaction amount of $25.

****Offer only valid for 18-month term. Minimum deposit of $100 required.  Certificate automatically renews to a 24-month term upon maturity at the rate of the 24-month certificate of deposit at the time of maturity.  18-month CD rates valid for normal CD and IRA CDs.  No add-on deposits allowed. Subject to early withdrawal penalties of 180 day's dividends.  Denver Community Credit Union reserves the right to terminate or modify this offer at any time.

All certificates automatically renewed for another term upon maturity. All certificates subject to early withdrawal penalties: term of 12 months or less = 90 days dividends, terms over 12 months = 180 days dividends. Share accounts at the credit union are variable rate accounts and dividend rates and annual percentage yields listed are subject to change without notice.

Fees may reduce earnings on accounts.

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