It's Never Too Early to Start Planning
| Types | APR* | APY** |
|---|---|---|
| Traditional | 2.91% | 2.94% |
| Roth IRA | 2.91% | 2.94% |
| Coverdell Educational Savings | 2.91% | 2.94% |
Rates effectived as of April 1, 2026
Savings RatesTCCU offers three different types of individual retirement accounts: Traditional, Roth, and Coverdell Education Savings.
- A Traditional IRA offers tax-deferred earnings and the possibility of tax-deductible* contributions.
- A Roth IRA is funded by non-deductible contributions but gives owners the opportunity for tax-free* withdrawals.
- A Coverdell Education Savings Account enables parents and others to deposit $2,000 per year to be used for educational purposes. Earnings grow tax-free* if you meet the income requirements.
Start planning for your retirement today by opening an IRA at Torrance Community Credit Union. An IRA is an important part of your long-term savings portfolio. For Traditional and Roth IRAs, there is a contribution limit of $6,000, and for members over 50, there is a catch-up contribution of $1,000.
*Please consult with a tax professional regarding your personal financial situation.