Individual Retirement Accounts (IRAs)

Retirement might seem far off, but you can never prepare too early — and our IRAs make it easy to get started. A Traditional IRA can provide tax relief today, while a Roth IRA has the potential for the most tax benefit at the time of retirement. Contact us today and we will help you get started with a CU Hawaii IRA.

  • No income limits to open
  • No minimum contribution requirement
  • Contributions are tax deductible on state and federal income tax1
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty2
  • Mandatory withdrawals at age 72½
  • Income limits to be eligible to open Roth IRA3
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal1
  • Principal contributions can be withdrawn without penalty1
  • Withdrawals on interest can begin at age 59½
  • Early withdrawals on interest subject to penalty2
  • No mandatory distribution ages
  • No age limit on making contributions as long as you have earned income

1Subject to some minimal conditions. Consult a tax advisor.   

2Certain exceptions apply, such as healthcare, purchasing first home, etc.

3Consult a tax advisor.