A smart savings plan can make your golden years even brighter
Choose Traditional or Roth IRAs
Enjoy tax benefits
Build a nest egg with steady deposits
Easily move your current IRA to GreenState
Traditional IRA
An Individual Retirement Account in which members can make pre-tax contributions and watch investments grow tax-deferred.
Roth IRA
An Individual Retirement Account designed to set aside after-tax income; these styles of accounts allow for tax free withdraws.
For maximum results, start saving as soon as possible
When you're just starting your career or enjoying that first promotion, retirement may be the furthest thing from your mind. But the sooner you open a tax-advantaged Individual Retirement Account at GreenState Credit Union and begin making regular contributions, the more money you'll ultimately have to truly enjoy that special time of your life.
- Individuals may contribute up to $7,500 annually – or $8,600 if older than age 50.
- The maximum contribution limit can be split between both Traditional and Roth IRAs accounts
- Contributions for the prior year may be made up until the tax filing deadline
- Funds may be deposited in IRA Money Markets or Certificates
- You may be able to take an income tax deduction for each year that you make a contribution
- You must begin taking Required Minimum Distributions (RMD) are required once you reach age 73. An RMD is the minimum amount of money that must be withdrawn from your Traditional IRA each year.
- Eligible income is required. Eligible income may include wages, salaries, tips, commissions, and bonuses.
- Consult your tax or financial advisor for tax-related questions
- Individuals may contribute up to $7,500 annually – or $8,600 if older than age 50.
- Funds may be deposited in IRA Money Markets or Certificates
- Roth contributions are made after taxes are paid and do not qualify for a tax deduction
- There are no required minimum withdrawals at any age
- Eligible income is required. Eligible income may include wages, salaries, tips, commissions, and bonuses.
- Consult your tax or financial advisor for tax-related questions
Transfer or Rollover Your IRA
A transfer occurs when established IRA funds are moved from one financial institution to another financial institution remaining as IRA funds during the transfer. An unlimited number of transfers may be completed in a year.
A rollover involves moving IRA funds from one institution to another. You have 60 days to redeposit the funds after receiving them. One rollover per 365 days is allowed for personal IRAs (not employer-sponsored plans).
For detailed information about transfers and rollovers, please visit our Help Center.
2025 Roth MAGI1 Limits for Regular and Roth IRA Contributions
2026 Roth MAGI1 Limits for Regular and Roth IRA Contributions
Common Transactions
Distributions
- Distributions occur when a withdrawal is taken from your IRA. Members may elect to withhold taxes from these transactions. We advise discussing potential distributions with your tax professional.
Required Minimum Distribution (RMD)
- A RMD is the minimum amount of money that must be withdrawn from your Traditional IRA each year. These withdraws are required once you reach age 73. ROTH IRAs do not require withdrawals until after the death of the owner.
- This withdrawal must be made no later than December 31 each year. If you reached age 73 this year, you may delay your first withdrawal until no later than April 1 of the next year. (Two minimum distributions would be required in the year following your 73rd birthday.)
- The RMD amount of your GreenState IRA will be provided to you on your annual statement.
- RMDs between all accounts may be aggregated and distributed partially from all financial institutions or combined from one institution.
Contributions
- Funds contributed to an IRA to save for retirement. Keep in mind, there are annual limits and certain contributions may be tax-deductible. To find out if your contributions qualify, please contact a tax professional.
- Prior year contributions can be made up until tax filing deadline.
- The maximum contribution can be contributed fully to either a Traditional or ROTH IRA or divided between the two accounts. (Contribution limits are aggregated between all financial institutions.)
Earn interest at competitive rates with a savings account from GreenState Credit Union. Open an account online, reach out to a lender in your area, or visit a branch today.
Contact the IRA Team
| Phone Number: | (800) 397-3790 |
| Fax Number: | (319) 665-2162 |
| Mailing Address: | GreenState Credit Union Attention GreenState IRA Dept. PO Box 800 North Liberty, IA 52317 |
| Overnight Mailing Address: | GreenState Credit Union Attention GreenState IRA Dept. 2355 Landon Rd. North Liberty, IA 52317 |
Consistently ranked in the top 1% of all banks and credit unions nationwide for returning profits with better rates on loans and deposits.
Bring a welcome predictability to your savings strategy.
(MAGI) Modified Adjusted Gross Income
Rainy Day Savings: APY is Annual Percentage Yield and is accurate as of the last dividend declaration date and does not apply to Rainy Day Non-Dividend Savings account. The Rainy Day Savings account rate is variable and may change after account opening. This account is a tiered rate and will pay the stated rate on average balances up to $2,499.99. Balances of $2,500.00 or greater will earn 0.05% APY. Rainy Day Non-Dividend Savings account pays no yield regardless of the balance in the account. Rainy Day Savings must be linked to a GreenState checking account. $5 minimum balance required. Members can unenroll at anytime by request. Fees may reduce earnings.
Youth Savings: APY is Annual Percentage Yield. The Youth Savings account rate is variable and subject to change. This account is a tiered rate and will pay the stated rate on average balances up to $2,499.99. Balances of $2,500.00 or greater will earn 0.50% APY. Dividends compounded monthly. Rates are variable and may change after the account is opened. APY listed above is accurate as of the last dividend declaration date. Fees could reduce earnings on the account. $1.00 per debit after three (3) per month.