Investments & Planning

    Make smart moves with money.

    Traditional Money Fund IRA

    Provides a means for saving for retirement without having funds locked up for a set amount of time.

    • No minimum opening deposit required
    • Contributions may be tax deductible
    • Earnings are tax-deferred
    • No age limit on contributions for individuals who have earned income and are eligible
    • Up to 2.36% APY with dividends paid quarterly
    • Penalty-free early withdrawal options for first-time home purchase or college expenses
    • Funds federally insured up to $250,000

    NOTE: Withdrawals in retirement are taxed at ordinary income tax rates. For other options, explore certificate and IRAs.


    Benefits for Today and Tomorrow

    Opening a Traditional Money Fund IRA is a great way to save for retirement — and to gain tax advantages today. Anyone with earned income can open and make contributions to a Traditional Money Fund IRA. Contributions may be tax deductible on both state and federal tax returns for the year in which you make the contribution. Contributions to your Traditional Money Fund IRA may lower your taxable income in the contribution year, which may help you qualify for other tax incentives.

    NOTE: Deposits to an IRA are limited by Federal Regulations. Consult your tax advisor regarding your personal tax situation. Check the current contribution limits in place each year you contribute to your Traditional Money Fund IRA.

    Tiered Dividends

    You can open a Traditional Money Fund IRA with no minimum opening deposit and no balance requirement. Earn higher dividends as your balance grows. Account holders must have earned income or alimony in order to open and make annual contributions to a Traditional Money Fund IRA.

    NOTE: Tiered dividends are paid quarterly on any balances. Dividends are calculated using the daily balance method. Your balance tier determines the daily dividend rate and annual percentage yield on the daily account balance. The rate is variable, and may change at any time after the account is opened. Fees could reduce earnings.


    Options for Withdrawal

    With a Traditional IRA, when you turn 72, you must begin taking required minimum distributions (RDMs)(Note: Until the end of 2019, 70½ was the age when minimum distributions were required to start). These withdrawals are taxed at ordinary income tax rates at the time of withdrawal. Early withdrawals are subject to penalty. Up to $10,000 may be withdrawn without the normal early withdrawal penalty to pay for qualified first-time home buyer or college expenses. At age 59 1/2, additional qualified early distributions may be allowed.

    NOTE: Substantial penalties for early withdrawal will apply except for those specifically permitted under IRS Regulations. If you wish to make a withdrawal, check to determine whether you may do so penalty-free, or if you will face an early withdrawal penalty.

    Get Help from Credit Human

    Opening your IRA is easy — we’re here to help. The type of individual retirement account you choose can significantly affect your long-term savings. Be sure to understand your IRA options to choose the best one for you. For help in understanding your options, or to open an IRA, call our Member Service Center at 210-258-1234 or toll free at 1800-688-7228.

    Your Insured Funds

    Credit Human IRAs are insured separately up to $250,000 by the National Credit Union Administration (NCUA), a U.S. Government Agency. Similar to deposit insurance coverage offered by the FDIC for banks, the NCUA operates the National Credit Union Share Insurance Fund (NCUSIF) to protect accounts at federally insured credit unions.

    MORE DETAILS:  Account type and ownership factor into coverage amounts. Read up on NCUA Share Insurance (PDF) to maximize your coverage, estimate your coverage online, or call our Member Service Center at 210-258-1234 or toll free at 800-688-7228 for further information on your insured funds.

    Traditional Money Fund IRA Rates

    Account Balance Dividend Rate Annual Percentage Yield
    $0.00 - $499.99 0.30% 0.30%
    $500.00 - $999.99 0.70% 0.70%
    $1,000.00 - $9,999.99 1.74% 1.75%
    $10,000.00 - $89,999.99 1.99% 2.00%
    $90,000.00 and up 2.34% 2.36%

    Rates are effective as of June 14, 2024

    A penalty will be imposed for early withdrawal, including substantial penalties on tax-deferred instruments.

    Includes Traditional, Roth, and Education IRAs.

    The variable rate may change after the account is opened. Fees could reduce the earnings on these accounts.

    Balance tier determines daily dividend rate and annual percentage yield on the daily account balance.

    Your Credit Human deposits are insured up to $250,000 by the National Credit Union Administration (NCUA), as a U.S. Government Agency. In addition, your Credit Human IRA deposits are insured, separately, up to $250,000 by the NCUA. Membership eligibility required. For current rates, APY, or additional information, please ask an Account Service Representative or call the Credit Human Member Service Center U.S. Toll Free at 1-800-234-7228 or in San Antonio at 210-258-1234.

    * Each member of Credit Human is also a part owner and your $5.00 deposit establishes your membership. You must maintain $5.00 in your share savings account at all times to cover your ownership share in Credit Human.

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