Choose Traditional or Roth IRAs
Individual Retirement Accounts
Your golden years, on your terms
Benefit from steady dividend earnings
Stretch your dollars with tax breaks
Do a little planning now. Do whatever you want later.
Whatever your idea of a perfect retirement looks like — sunning on the beach, spoiling the grandkids, traveling the world, or diving into volunteer work — it depends on the same thing: enough saved to actually live that way. An IRA at Maui County FCU turns that into something you build a little at a time, with the tax advantages the IRS gives specifically to retirement savings, so more of what you earn along the way stays working for you. One key difference between Roth and Traditional IRAs concerns withdrawals. With a Traditional IRA, you must begin collecting payments by age 73. With Roth IRAs, it's solely your choice on when to begin withdrawing funds.
Put cash aside for your savings goals with flexible and competitive savings rates from Maui County Federal Credit Union's secured, personal savings accounts.
Two tax treatments to choose from, so you can pick what fits your situation
Traditional IRA
Contributions may be tax-deductible in the year you make them (subject to income and workplace retirement plan rules), and you pay tax on withdrawals in retirement.
Roth IRA
Contributions are made after-tax, and qualified withdrawals in retirement are entirely tax-free.
Dividends and growth are tax-advantaged in both account types — 2.96% dividend rate / 3.00% APY, paid monthly.
$5.00 minimum opening deposit.
Contribute up to $7,500 annually (2026 IRS limit), or $8,600 if you're age 50 or older (includes the $1,100 catch-up contribution), across your Traditional and Roth IRAs combined.
IRA FAQs
No monthly service fee.
$5.00 to open. For 2026, the IRS allows up to $7,500 in total contributions across your Traditional and Roth IRAs, or up to $8,600 if you're age 50 or older by year-end (includes a $1,100 catch-up contribution). These limits are set annually by the IRS and can change.
You (or your spouse, if filing jointly) must have earned income at least equal to your contribution
Roth IRA contributions are subject to IRS income limits that phase out eligibility at higher income levels
Traditional IRA tax deductibility may be reduced or eliminated if you or your spouse are covered by a workplace retirement plan, depending on income
Withdrawals from either IRA type before age 59½ are generally subject to a 10% IRS early withdrawal penalty, plus any income tax owed, with some IRS-defined exceptions
For a Roth IRA, withdrawing your original contributions is generally not penalized, but withdrawing earnings before age 59½ and before the account is 5 years old is
Traditional IRAs are subject to required minimum distributions (RMDs) starting at an age set by the IRS; Roth IRAs are not subject to RMDs during the original owner's lifetime
Traditional: contributions may be tax-deductible now; you pay tax on withdrawals in retirement. Roth: contributions are after-tax now; qualified withdrawals in retirement are tax-free. Which is better depends on your current versus expected future tax bracket — a financial or tax advisor can help you decide.
Resources for Managing Your Money
Helpful resources, financial education, calculators, and guidance to help you save smarter and handling your finances with confidence.
Plan your budget and track your spending with confidence.
Learn how to keep your accounts and information secure.
Bank smarter with convenient digital tools and features.
View current rates for checking & savings accounts.
Plan your budget and track your spending with confidence.
Learn how to keep your accounts and information secure.
Bank smarter with convenient digital tools and features.
View current rates for checking & savings accounts.
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Competitive interest rates
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Watch your money work for you
Lock in a competitive rate and watch your savings grow with confidence.
Open a Traditional or Roth IRA to save for your retirement