Retirement Accounts

We offer Traditional and Roth Individual Retirement Accounts (IRAs). IRAs are a great way to ensure a more secure retirement for yourself and your family. Our IRAs are offered in the form of Certificates of Deposit.

IRA Comparison

Feature	Traditional IRA	Roth IRA
Eligibility Age	You must be under age 70½ to contribute to a traditional IRA	You can contribute to a Roth IRA at any age
Early Withdrawals	Unless an exception applies, withdrawals before age 59 ½ may be subject to a 10% penalty	Unless an exception applies, non-qualified withdrawals may be subject to taxation of earnings and a 10% additional tax
Required Minimum Distributions (RMDs)	RMDs starting at age 70½	No RMDs during lifetime of original owner
Contribution Deadline	Generally, April 15th of the following year for any given tax year	Generally, April 15th of the following year for any given tax year

Looking for more?

See a Union Federal Customer Service Representative for more details.

Health Savings Accounts

Union Federal offers a Health Savings Account (HSA) to anyone who has a High Deductible Health Plan (HDHP), and no other health insurance. Please consult your health plan administrator to verify that your health plan is a qualified HDHP.

Feature	HSA
Description	Checking Account for Medical Expenses
Minimum to Open	$50
Interest Bearing	Yes*
Monthly Fee	$0
Minimum Balance	$1
Fee if below Minimum Balance	None
Other Benefits	Contributions may be tax deductible

* Interest rate tiered by balance

Retirement Accounts

IRA Comparison

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Health Savings Accounts

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