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In retirement planning, traditional can be your perfect fit.

Traditional Individual Retirement Accounts (IRAs)

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Contributions might be
tax-deductible

The traditional route to retirement in Michigan

  • Make your money work hard
  • Contributor must be under 70½ years of age and have earned taxable income for the year
  • Rollovers or transfers from other plans can be made even if the IRA owner is 70½ years of age or older
  • $1,000 catch-up contribution allowed for members 50 years or older
  • Contribution limits up to $6,500 total (Traditional and Roth) for 2023 or 100% of taxable compensation, whichever is less
  • Eligibility and deduction limits may apply, based on your Adjusted Gross Income (AGI)
  • Available as an IRA Certificate of Deposit, growing at a fixed interest rate, or an IRA Savings account
Retirement Planning
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Start planning for retirement today.


Do you have a picture of your retirement in mind? Credit Union ONE's Traditional Individual Retirement Account (IRA) options can clarify your vision. Your retirement funds will grow steadily when you choose our IRA CD or IRA Savings account, and your contributions might be tax-deductible. You won't pay taxes on this account until you withdraw money, meaning this could be the right fit if you expect to be in a lower tax bracket in retirement. Make sure you consult your tax advisor for full details about specific tax advantages. Plus, there's more flexibility in Traditional IRAs today, and you could use this account to make penalty-free withdrawals long before retirement for purposes such as buying a first home. No matter your financial goals, we're dedicated to helping you, and all our Michigan members, reach them.
Visit us to open a Traditional IRA.
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Related resources
  • A contributor must begin to withdraw funds at age 70½
  • IRS penalty-free withdrawal events include:
    • Reaching 59½ years of age or older
    • Incurring a disability**
    • Buying a first home ($10,000 lifetime cap)
    • Other qualifying expenses include education and medical needs

What IRAs do you offer? 

Credit Union ONE does offer Traditional IRAs, Roth IRAs, Rollover IRAs, and Spousal IRAs.

Withdrawals may have additional penalties. Always consult your tax advisor.

**Restrictions and documentation requirements apply.

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Call us at 800-451-4292.
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