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Individual Retirement Accounts (IRAs)

Traveling, creating, surfing — you've got a lot of life left and you deserve to have the retirement you’ve been dreaming of. And we’re committed to making it happen for you. An IRA from Cooperative Center helps you plan for your future while earning competitive dividends.

We offer traditional, Roth, and SEP options to get your retirement savings on track, as well as a Coverdell ESA for members who are looking to save up for their child’s education.


  • Competitive dividends above standard savings rates
  • Traditional, Roth, Coverdell, and SEP IRA options
  • No setup fees
  • No monthly or annual maintenance fees
  • $5,000 contribution limit per year
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Funds can be used to purchase share certificates within IRA
  • $100 minimum deposit to open

Check out our rates page for an up-to-date rate!

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.

Traditional IRA

  • 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 1/2
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals at age 70 1/2

Roth IRA

  • 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  • Principal contributions can be withdrawn without penalty*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 can begin at age 59 1/2
  • Early withdrawals subject to penalty**
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income

Create an easier transition into college for yourself and your student by setting up a savings account early. A Coverdell Education Savings Account (ESA) provides a tax-free safe place to grow competitive dividends and also financial confidence for a new stage in life.

  • Set aside funds for your child's education
  • No setup or annual fee
  • Dividends grow tax-free on balances of $100 or more
  • Withdrawals are tax-free and penalty-free when used for qualified education expenses*
  • Designated beneficiary must be under 18 when contributions are made
  • To contribute to an ESA, certain income limits apply**
  • Contributions are not tax deductible
  • $2,000 maximum annual contribution per child
  • The money must be withdrawn by the time he or she turns 30***
  • The ESA may be transferred without penalty to another member of the family
  • $100 minimum deposit to open

More Information

This investment tool was created to help parents (as well as family members and friends) pay for the future cost of a child's post-secondary education. The plan allows total after-tax contributions of $2,000 per year for each child until they reach the age of 18. These contributions and their subsequent earnings are tax free when withdrawn to pay for qualified education expenses.

What is a qualified higher education expense?

A qualified higher education expense is one that is required for the enrollment or attendance by your child at an eligible educational institution. These expenses include:

  • Tuition
  • Fees
  • Books
  • Supplies, and
  • Equipment