Traditional IRA

Build long-term retirement funds with a Traditional IRA.

Create a nest egg with tax-deferred growth and a possible tax deduction.

OPEN AN ACCOUNT

Maximize Your Retirement Savings with a Traditional IRA Account

No Minimum Deposit to Open

Grow your IRA savings faster with tax-deferred dividends that compound over time.

Earn Tax-Deferred Dividends

Start building your retirement savings right away with the money you already have.

Lower Your Taxable Income

Potentially keep more of your money at tax time, with qualifying contributions. For those who qualify³.

Individual Retirement Account Rates

Rates

As of June 1, 2025

Type	Minimum Balance to Earn APY	APY¹
Traditional IRA	$50	1.00%

Traditional IRA Details

A Traditional IRA is a flexible retirement savings account that makes it easy to build long-term savings while taking advantage of valuable tax benefits.

Account features include:

No minimum deposit required to open
Earn tax-deferred dividends on balances of $50 or more¹
Contribute up to $7,500 per year²
Begin penalty-free withdrawals of IRA savings at age 59^½
Make Tax-deductible contributions.³
Account stays with you even if you change jobs

OPEN AN ACCOUNT

SEE RATES

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How to Open a Traditional IRA

Become a Member

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

Complete the Traditional IRA application to open an account.
Build a Nest Egg!

Transfer funds or set up automatic contributions to start growing your retirement savings.

See What Our Team Says

Love this credit union! Great banking for members! Staff is super-friendly and helpful.

Melissa B., Pottsville, PA

The people of CACL are organized, prompt, and to the point. If necessary, they go way out of their way to ensure my family's needs are met. I could not ask for a better banking experience.

Doug C., Pottsville, PA

Great customer service and top-notch loan department. They are always going out of their way to help the people in Schuylkill County!

Joe S., Pottsville, PA

Traditional IRA FAQs

What is a Traditional IRA?

A Traditional IRA allows you to save for retirement with tax-deferred earnings and the possibility of tax-deductible contributions.

Who can open a Traditional IRA?

Membership is required to open a Traditional IRA with CACL Financial. Anyone who lives, works, worships, volunteers, or attends school in Schuylkill County is eligible to join. To become a member, you’ll need to provide your Social Security number or Tax ID, present a valid government-issued ID or passport, and make a $5 deposit into a Savings Account.

How much can I contribute to a Traditional IRA?

You can contribute up to the IRS annual contribution limit, which is $7,500 per year or $8,600 if you are age 50 or older. Contribution limits may change over time, so it’s a good idea to check current IRS guidelines.

Can I change how often I contribute?

Yes. You can change how often you contribute to your Traditional IRA at any time. You can make one-time deposits or set up recurring contributions.

Are there income limits for a Traditional IRA?

There are no income limits for contributing to a Traditional IRA. However, your income and whether you participate in an employer-sponsored retirement plan may affect whether your contributions are tax-deductible. This can be especially important for individuals in a higher tax bracket who may benefit more from upfront tax savings.

What happens if I withdraw funds early?

Early withdrawals can reduce your retirement savings and may result in tax consequences. Funds withdrawn before reaching age 59½ are generally taxed as income and may be subject to an additional 10% early withdrawal penalty.