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Individual Retirement Accounts (IRA)

Save for retirement with local help.

Open a Traditional or Roth IRA at Northwoods Credit Union and save at your pace.

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Build your retirement savings with confidence

Build your retirement savings with local help. Choose a Traditional or Roth IRA, set up automatic contributions, and ask about current dividend rates and IRA Certificate options. Membership eligibility required.

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Traditional and Roth options

Choose the IRA that fits your goals. Our team can help explain the basic differences so you know where to start.

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Tax-advantaged savings*

IRAs may offer tax benefits as you save for retirement. Please check with a financial advisor for guidance.

*Refer to a financial advisor for more information.

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Competitive dividend rates

Earn dividends while you save. View current rates anytime or ask our team for help comparing options.

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No setup or admin fees

Open your IRA without added setup or administrative fees. We keep the process simple from the start.

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No monthly or annual maintenance fees

Save without monthly or yearly maintenance fees taking away from your balance.

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IRA Certificate options

Lock in savings with 24- or 36-month IRA Certificates. A $1,000 minimum balance is required.

Compare our IRA rates with leading competitors.

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Rates effective as of: August 26, 2026

TIS Disclosures can be found here.

See how much you can save with us!

Adjust the sliders to view your potential savings over time.

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Current Age
Retirement Age
Current Savings
$
Annual Deposit
$
Rate
%
Years of Retirement Income
1
100
Adjust for inflation
Dividends compound monthly. Read assumptions

Total Retirement Savings

Annual Retirement Income

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This calculation represents an estimate.

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Frequently asked questions

Find answers to common questions about our IRA accounts and services.

  • A regular IRA lets you save for retirement while earning dividends. An IRA Certificate lets you set aside funds for a fixed term, with 24- and 36-month options available. A $1,000 minimum balance is required for IRA Certificates.

  • Yes. Northwoods Credit Union offers both Traditional and Roth IRA options, including IRA Certificate options for each.

  • An early withdrawal penalty may apply if principal is withdrawn before the maturity date. Northwoods Credit Union’s savings terms explain that penalties may be based on forfeited dividends.

  • Yes. Certificate accounts automatically renew at maturity, and there is a 10-day grace period after maturity to withdraw funds without an early withdrawal penalty.

  • Yes. IRA tax benefits and rules can depend on your personal situation, so it is a good idea to speak with a financial advisor before deciding what works best for you.

Make informed decisions with our resources

Retirement & Investment Services

Looking for personalized retirement guidance? Learn how Northwoods Retirement & Investment Services can help you build a plan for the future.

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Share Certificates

Learn how certificates can help you save for a set period of time.

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Contact our team

Have questions about IRAs, retirement planning, or investment options? Connect with our team for personalized guidance and support.

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Ready to plan ahead?

Start saving for retirement with Northwoods Credit Union

Open a Traditional or Roth IRA with local support from a team that can walk you through your options. Available to eligible members.

Get started today View rates

Assumptions

Retirement age

Calculation assumes that the year you retire, you don't make contributions. If you retire at 67, the calculation assumes your last contribution is at 66.

Inflation

Calculation assumes a 2.9% rate of inflation. This is a common measure of inflation in the U.S. is the Consumer Price Index (CPI). From 1925 through 2018 the CPI has a long-term average of 2.9% annually.

Social Security

Social Security benefits are not considered for this calculation. Social Security is based on a sliding scale depending on your income, how long you work and at what age you retire.

Pensions

Pensions are not considered for this calculation.

Rate of return

Interest compounds monthly. The interest rate specified in calculator is used to calculate your return on savings and investments during and after retirement.

Disclosure

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Rates

Share rates

Rates effective as of: August 26, 2026

TIS Disclosures can be found here.

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