Senior couple sitting on a beach.
2.22% APY


compound daily, paid monthly

Minimum deposit


A Roth IRA allows you to build a tax-free nest egg for your retirement. Because these funds are not tax-deductible at the time they are deposited, qualified contributions may be withdrawn tax- and penalty-free at any time. Earnings withdrawn before age 59½ and before the account is five years old may be subject to tax and penalties.

Later, if certain requirements are met, you will be able to take tax-free and penalty-free distributions of earnings in retirement.

How a Roth IRA works

With an LGFCU Roth IRA, you only need a $25 minimum deposit to open your account and to maintain the required minimum balance. Ongoing contributions are not required. If you choose to make ongoing contributions, the Credit Union makes it easy to do so, using recurring Funds Transfer. Monthly statements are provided.

Dividends, which some financial institutions call interest, are compounded daily and paid monthly. There is no minimum balance requirement to earn dividends on a Roth IRA. There is no charge to open or service the account. However, a $1 service fee is charged if the account balance falls below $25 on the statement date.

You'll have 24/7 account access to your funds. Manage your account on the go with Member Connect, or visit a CashPoints® ATM or nearby branch.

Rates and annual percentage yields (APY) are subject to change daily. Funds may not be borrowed or used as security for a loan. A 6% non-deductible federal excise penalty may be imposed for excess contributions.


Next Steps

Choose a way to request your Roth IRA.

Your resources: IRA Beneficiary Form