Roth IRA

Build tax-free retirement income with a Roth IRA.

Make after-tax contributions today and enjoy tax-free withdrawals¹ in retirement with a Roth IRA savings account.

Open an Account

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    Grow Your Retirement Savings Tax-Deferred with a Roth IRA

    No Minimum Deposit to Open

    Make contributions in amounts that fit your budget, up to the IRS annual limit. Dividends are earned on balances of $50 or more.

    Tax-Deferred Growth

    Our competitive rates help your Roth IRA balance increase steadily as you contribute from your post-tax earnings.

    Qualified Tax-Free Withdrawals

    Contributions are made with after-tax dollars, so qualified withdrawals¹ in retirement are tax-free.

    Individual Retirement Account Rate

    Roth IRA

    As of June 1, 2025

    Type Minimum Balance to Earn APY2 APY2
    ROTH IRA $50 1.00%

     1Qualified withdrawals require a Roth IRA to be opened for a minimum of five (5) years, plus one of the following: the IRA owner attains the age of 59 ½, the withdrawal is for First-Time-Homebuying, the IRA owner is disabled, or the withdrawal is for the beneficiary of a deceased IRA.

    2APY = Annual Percentage Yield.

    Roth IRA Details

    With a CACL Financial Roth IRA, you contribute using money that’s already been taxed. Your savings can grow over time without immediate taxes, and if you meet IRS guidelines, you can withdraw both contributions and earnings tax‑free in retirement.

    Account features include:

    • No minimum deposit required to open.
    • Post-tax contributions grow tax-deferred until you access them in retirement.
    • Qualified withdrawals1 are tax and penalty-free after you turn 59½.
    • Contribute up to $7,500 per year3.

    Apply Now SEE RATES

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    1 Qualified withdrawals require a Roth IRA to be opened for a minimum of five (5) years, plus one of the following: the IRA owner attains the age of 59 ½, the withdrawal is for First-Time-Homebuying, the IRA owner is disabled, or the withdrawal is for the beneficiary of a deceased IRA.

    3 May contribute $8,600 if you're 50 years of age or older.

    How to Apply for a Roth IRA

    1. Become a Member

      Open your membership online by clicking the button below, or visit a branch in person.

    2. Open a Roth IRA Account

      Connect with our team to schedule a visit to one of our branches and open your Roth IRA.

    3. Build a Nest Egg!

      Make a deposit in person or set up automatic contributions to start building your retirement savings.

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    Roth IRA FAQs

    A Roth IRA is a tax-advantaged individual retirement account (IRA) that lets you make after-tax (nondeductible) contributions and take tax-free qualified withdrawals.
    Anyone is eligible to open a Roth IRA. However, to make out-of-pocket contributions, you must have earned income (via wages, salary, and/or other eligible compensation), and the income must fall within the Modified Adjusted Gross Income (MAGI) limits.
    Contributions to a Traditional IRA may be tax-deductible for the given tax year, providing an immediate tax benefit for those who qualify. Taxes are due when withdrawals are taken in retirement. A Roth IRA accepts after-tax contributions, meaning the money you contribute has already been taxed. Qualified withdrawals in retirement are tax-free.
    No—Roth IRA contributions are made with money you’ve already paid taxes on, so they are not tax-deductible. The benefit is that your savings can grow tax-deferred, and qualified withdrawals in retirement are also tax-free.
    Funds can be withdrawn from your Roth IRA at any time. However, depending on when you take the money out and which assets are part of the distribution—contributions, conversion or rollover amounts, or earnings—you may owe income tax on the earnings or rollover contributions, along with a possible IRS penalty. If the withdrawal qualifies as a “qualified distribution,” the payout is free from both taxes and early-withdrawal penalties.
    You may contribute up to $7,500 per year. Please be aware that contributions to Roth IRAs are subject to MAGI limits. You may contribute an additional $1,100 in catch-up contributions if you're 50 or older. Income restrictions do limit how much you can contribute. Contact the credit union for more information.

    More Ways to Save

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    Traditional IRA

    Reach your financial goals with a Traditional IRA. Make tax-deferred payments today and lower your tax bill. You’ll save money if you’re in a lower tax bracket when you withdraw.

    Learn More

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    Money Market Accounts

    Money Market Accounts allow you to earn dividends while maintaining access to your funds. This account offers a practical balance of earnings potential and liquidity for your everyday needs.

    Learn More

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    Regular Share Savings Account

    Build your savings with a Regular Share Savings Account that offers steady dividends and convenient access to your funds.

    Learn More

    Ready to Build Tax-Free Retirement Income?

    We are here to help. Apply for a Roth IRA.

    1Qualified withdrawals require a Roth IRA to be opened for a minimum of five (5) years, plus one of the following: the IRA owner attains the age of 59 ½, the withdrawal is for First-Time-Homebuying, the IRA owner is disabled, or the withdrawal is for the beneficiary of a deceased IRA.

    2 APY= Annual Percentage Yield.

    3 May contribute $8,600 if you're 50 years of age or older.