Transition your dreams into a real-life outcome with the help of an IRA from Wellspring Credit Union. 

Whether your dream retirement entails a slow crawl on a pontoon boat or chasing rambunctious grandkids, it's never too early to start saving. We offer both traditional and Roth IRA plans — each with different associated tax advantages*, plus Education Savings to help save for your child's education. There are no setup or monthly maintenance fees, just dividends above standard savings to be earned!

  • Competitive dividends above standard savings rates
  • Traditional and Roth IRA options
  • No setup fees
  • No monthly or annual maintenance fees
  • Annual contribution limits apply
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Funds can be used to purchase share certificates (CDs) within IRA
  • $100 minimum deposit to open an IRA savings account
  • $2,000 minimum deposit to open an IRA share certificate
*Consult a tax advisor.


Traditional vs Roth

There are advantages to both Traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement. 

Traditional IRA

  • No minimum contribution requirement
  • Contributions are tax deductible on state and federal income tax1
  • Earnings are tax deferred until a withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59 ½
  • Early withdrawals subject to penalty2
  • Mandatory withdrawals begin at age 70 ½ 

Roth IRA

  • Income limits to be eligible to open Roth IRA3
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal1
  • Principal contributions can be withdrawn without penalty1
  • Withdrawals can begin at age 59 ½
  • Early withdrawals are subject to penalty2
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income 
1Subject to some minimal conditions. Consult a tax advisor.
2Certain exceptions apply, such as healthcare, purchasing first home, etc.
3Consult a tax advisor.

Set aside for your retirement plans.

*Consult a tax advisor.

Shared Branches

Easily access your account through a cooperative network of over 5000 locations nationwide!

Online Banking & Bill Pay

Check balances, transfer money, and more — without ever leaving home!