Traditional and Roth IRAs

Traditional IRA Accounts & Roth IRA Accounts in Des Moines, IA 

Individual Retirement Accounts (IRAs) are federally regulated savings accounts designed to help you save for retirement. When you get your IRA at Financial Plus, it is insured by the National Credit Union Administration, a U.S. Government agency. That means, your hard-earned dollars are going to be there when you need them - guaranteed. Financial Plus offers both Traditional IRA accounts and Roth IRA accounts, so you can choose what will be best for you and your financial plans. Our experts will help you decide which plan will benefit you the most in the future. 

A Traditional IRA account is a type of individual retirement account in which you can make pre-tax contributions and the investments in the account grow tax deferred. In retirement, you’ll pay income tax on withdrawals from your traditional IRA. 

A Roth IRA account, on the other hand, is an individual retirement account that offers tax-free growth and tax-free withdrawals in retirement. Roth IRA rules dictate that, as long as you've owned your account for five years and you're age 59½ or older, you can withdraw your money when you want to and you won't owe any federal taxes. 

At Financial Plus you can choose from a Traditional or Roth IRA:

  • Traditional IRA deposits (contributions) may be tax deductible under certain conditions and the dividends earned are tax-deferred.

  • Roth IRA contributions are not tax deductible but qualified distributions (withdrawals) are not taxable.

You can learn more about both Traditional and Roth IRAs by clicking on the Internal Revenue Service's link below.

If you're just getting started, you can open an IRA Share Savings Accounts that can help you build up enough funds to open an IRA. We also accept IRA rollovers from other financial institutions or employer accounts at which you may have an IRA. 

Learn about the differences between a Traditional IRA and a Roth IRA here. 


IRA Rates

APY is accurate as of the last dividend declaration date. Dividends paid monthly.

Balance Rate APY
Traditional IRA Account 0.30% 0.30%
Roth IRA Account 0.30% 0.30%
Roth Conversion IRA Account 0.30% 0.30%

The annual percentage yield (APY) is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. For all accounts, the dividend rate and annual percentage yield may change at any time as determined by the Credit Union's Board of Directors. The dividend rates and annual percentage yields listed above are the rates and yields approved at the last Board of Director's meeting to take effect on the date above. The Plus Checking and Money Market accounts are tiered rate accounts. The balance ranges, dividend rates, and annual percentage yields for each tier are listed above. Once a particular balance range is met, the dividend rate and annual percentage yield for that balance range will apply to the full balance of your account. Balance ranges may change at any time as determined by the Credit Union's Board of Directors. Maintenance or activity fees could reduce the earnings on an account. A penalty may be imposed for early withdrawal of share certificates. Withdrawal of earnings could reduce the APY. Please see the fee schedule for fees related to these accounts.