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 / Accounts / Savings / IRA Savings Accounts

IRA Savings Accounts

Future Thinking: Roth IRA, Traditional IRA & SEP IRA

We offer three different types of Individual Retirement Accounts (IRAs): Traditional IRA, Roth IRA and SEP IRA. We also offer IRA CDs as well as investment-based IRAs through Delta Community Retirement & Investment Services. And what makes each of them so great is the special federal tax laws that govern them. Earnings within a Traditional IRA and SEP IRA generally aren’t taxed until they’re distributed. And contributions are tax-deductible for many taxpayers (a SEP IRA is tax-deductible for the employer). So over time, you may be able to accumulate more savings than you would with another savings tool. As for a Roth IRA, generally they aren’t even subject to federal taxes, if certain conditions are met.

IRA Savings Accounts Overview & Benefits

The 2016 contribution limits for the Roth IRA and Traditional IRA are $5,500. The catch up contribution is $1,000 for members age 50 or older.

Take a look at these benefits and see why Delta Community Credit Union is a great place to open an IRA Savings Account.

All IRA Savings Accounts:

  • Federally insured by the National Credit Union Administration for up to $250K
  • No setup, maintenance or administrative fees
  • Very competitive dividend rates
  • Easy application process
  • Assistance from trained IRA Specialists
  • Access to informative Online IRA Service Center

All IRA CDs:

  • Fixed terms of 12, 24, 36 and 60 months
  • Only require $1,000 minimum investment
Want to dive deeper into our IRA Savings Accounts?

Learn more at Delta Community’s IRA Service Center.

For more information on calculating your IRA Savings Account investment returns please use our free Savings Calculators.

Who is this product right for?

Someone who is interested in a low-risk IRA as a savings tool.

Individual Retirement Accounts/Coverdell Educational Savings Accounts

Delta Community Credit Union’s IRA Savings Accounts & Coverdell Educational Savings Accounts dividend rates increase the more you invest.

Tier RateRateAPY*
$0 - $9,999.990.20%0.20%
$10,000.00 - $24,999.990.23%0.23%
$25,000.00 - $49,999.990.25%0.25%
$50,000.00 - $99,999.990.28%0.28%
$100,000.00 - and above0.30%0.30%

IRA CD Rates

Delta Community Credit Union’s IRA CD rates increase the longer your term of investment.

Tier RateRateAPY*
12 Month0.45%0.45%
24 Month0.64%0.65%
36 Month0.84%0.85%
60 Month1.24%1.25%

Who is this product right for?

Someone who is interested in a low-risk IRA as a savings tool.

IRA Savings Account Rate Comparison

Delta Community Credit Union has one of the highest dividend rates for IRA Savings Accounts as well as one of the highest IRA CD rates compared to other banks. Use our IRA rate comparison tool below to compare.

Minimum deposit:
Company APY
Delta Community CU 0.20%
Wells Fargo 0.03%

Compare IRA CD Rates

Select a product:
Company APY
Delta Community CU 0.45%
Bank of America 0.05%
Chase Bank 0.01%
Regions 0.10%
SunTrust 0.35%
Wells Fargo 0.10%

Competitor APYs as of the first day of the current month, provided by

Who is this product right for?

Someone who is interested in a low-risk IRA as a savings tool.

IRA Savings Account Fees

With Delta Community Credit Union’s IRA Savings Account there are no setup, maintenance or administrative fees.

Annual Fee $0.00
Institutional Transfer Out $25.00 each
after 1 free yearly

Who is this product right for?

Someone who is interested in a low-risk IRA as a savings tool.

  • Educational IRA, Coverdell Educational Savings Programs and the 529 account
  • What are the differences between an Education IRA, the Coverdell Education Savings Account and the 529 Savings Account?
    The Coverdell Education Savings Account replaced the original Education IRA. It can be withdrawn tax-free not just for college, but also for K-12 qualifying educational expenses such as tutoring, tuition, books and home computers. The Coverdell can also be used for special needs children. There is a contribution limit of $2000.00 a year per child. The Coverdell has age limits on the beneficiary- he or she must be under 18 to receive contributions and the account must be used by the time the beneficiary is age 30, unless it a special needs child. The Coverdell ESA is opened at the credit union under the child's own account.

    A 529 Savings Account plan is a tax-advantaged savings account used to pay for qualifying higher education expenses for students. The student can be your child, a family member, non-relative or yourself. Each state sponsors its own plan and has its own investment options and rules. Learn more about the CollegeBoundfund Enrollment or State of GA 529.

    For more information on the Coverdell Education Savings Account (formerly Education IRA's), please click here to visit our IRA Service Center.

  • Explanation of a Traditional or Roth IRA & Coverdell Education Savings Account
  • What is a Traditional or Roth IRA & Coverdell Education Savings Account? Traditional and Roth IRAs are accounts that provide tax advantages while helping Americans save for retirement. The Coverdell Education Savings Account is created for the purpose of paying qualified education expenses of the designated beneficiary (a child) of the account. IRA and Coverdell ESAs opened at Delta Community CU are insured, dividend paying accounts. Visit our IRA Service Center for more information on IRAs and Coverdell ESAs.

  • Decide not to use Coverdell Educational Savings Account
  • What happens to the Coverdell Educational Savings Account if my child chooses not to go to college?

    Coverdell ESA assets not used by the designated beneficiary s 30th birthday will be distributed within 30 days as taxable income to the designated beneficiary. Or, the funds may be rolled over to an eligible family member s Coverdell ESA.
    For a complete list of eligible family members please visit our IRA Service Center.

  • Inactive accounts and the accounts that are affected
  • What is an inactive account?
    An account becomes inactive when the aggregate balance in its deposit accounts (Savings, Checking, Additional Savings, and Money Market) is less than $60 and there is no activity for 6 consecutive months.

    • Accounts owned by members 17 years old and younger, are not subject to becoming inactive. Once they turn 18, they will be subject to the current inactive criteria and fee.
    • Inactive accounts are charged a $5 monthly service charge until the account reaches a zero balance and is closed or until the account has activity
    • If the member has an active loan, the account will not reach an inactive status, regardless of the amount on deposit.
    • IRAs are not subject to the inactive account status

    We encourage members to deposit regularly into their accounts, thus eliminating the $5.00 monthly Inactive Account Fee. A notice advising that the account is approaching an inactive status prior to having any fees deducted will be sent. The inactive account fee is deducted the first business day of the month after the letter is mailed.

    How can I avoid my account changing to an inactive status?

    • Maintaining a balance of at least $60 regardless of the number of transactions
    • Conducting at least one transaction every 6 months (this can be a transfer from one share to another, withdrawal, and or deposit)
    • Having an active loan(s) such as a Visa credit card

    How do I reopen an account that closed due to inactivity?

    If the account has been closed less than 30 days, the primary member may reopen the account over the phone after verification is completed.
    o reactivate an account after 30 days of closure, the primary member will need to complete a signature card and re-qualify for membership.

  • IRA Contribution Limits
  • How much can I put in my IRA for this year and can it be done online?


             2016 IRA contribution limit will remain $5,500

    o    Catch-up contribution limit will remain $1000 at age 50

             2016 HSA contribution limits

    o    Single HSA will remain $3,350

    o    Family HSA will increase to $6750

    o    Catch-up contribution limit will remain $1000 at age 55

    You can make regular IRA contributions online from your own Savings, Additional Savings, Checking or Money Market accounts. To do this, log in to your Online Banking account and transfer the funds utilizing the Transfer tool. (Contributions for the prior tax year may be made online until the tax return due date of the current year - generally April 15th.)

    If you prefer to mail a check for your regular contributions, you may access the proper form by clicking
    here. Complete, sign, and mail to Delta Community CU, P.O. Box 20541, Atlanta, GA 30320-2541, Attn: IRA Dept.


    You may find more information on contribution eligibility at the IRA Service Center.


Ready to Open an IRA Savings Account?

An IRA Savings Account must be established before an IRA CD may be opened. If you would like to open a Traditional IRA, complete the Traditional IRA Application. To open a Traditional IRA CD in conjunction with your Traditional IRA, complete a Traditional IRA CD Application. To open a Roth IRA, complete the Roth Application. To open a Roth IRA CD in conjunction with your Roth IRA, complete a Roth IRA CD Application.

Traditional IRA Forms

Roth IRA Forms

Want to transfer an IRA Savings Account to Delta Community Credit Union?

For those who aren’t familiar with what a transfer is, it’s when like IRA funds are moved directly from another financial institution to Delta Community Credit Union, without you having direct control or custody of the funds. There aren’t any time or frequency limits on the number of transfers you can make, and transfers are not reported to the IRS.

Here are the forms you’ll need to transfer to Delta Community:

For more information on transfers, visit the IRA Service Center or call 404-677-4600 to speak with one of our IRA Specialists.

Want to roll over funds to an IRA Savings Account?

For those who aren’t familiar with what a rollover is, it’s when the IRA funds are paid directly to you and you redeposit them into an IRA within 60 calendar days of receipt. The 60-day period begins after you receive the payment. One distribution per taxpayer may be rolled over in a 12-month period. In addition, the IRA holder may not roll over the same assets within 12 months. The distributing financial organization reports the IRA distribution to the IRS and the receiving financial organization reports the rollover contribution to the IRS.

Effective January 1, 2015, each taxpayer is only allowed one IRA-to-IRA rollover per 12-month period. This applies to any IRA and does not distinguish between Roth and Traditional. Should you have any questions about this change, please contact a competent tax professional or call to speak with a member of our IRA team at 404-677-4600.

Here are the forms you’ll need to complete a rollover contribution:

Traditional IRA Forms

Roth IRA Forms

For more information on rollovers please visit the IRA Service Center or call 404-677-4600 to speak with one of our IRA Specialists.

Want to make a withdrawal, a deposit or change beneficiaries?

Here are forms you’ll need:

Who is this product right for?

Someone who is interested in a low-risk IRA as a savings tool.

APY = Annual Percentage Yield. Competitor products displayed are those with terms comparable to the respective Delta Community CU product. APYs are accurate as of the first day of the current month and are provided by   Consult the financial institution directly for full product terms and current rates. $5.00 opening and minimum balance required.

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