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Individual Retirement Accounts

IRAs can help you plan for financial security during retirement.

An Individual Retirement Account (IRA) helps you save for retirement on either a tax-free or tax-deferred basis.

Take the Next Step

Book an Appointment

Open an account and experience the SPIRE difference today.

We believe SPIRE is more than a financial institution. Our Core Purpose is to improve lives and we want to be a partner in life with you.


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Tax Benefits

Your savings can grow faster with an IRA than
a traditional taxable savings account.

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Earn Dividends Faster

Earn dividends at a higher rate
than a traditional savings account.

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IRA Options


IRAs are available for all wage earners - even if you
are already covered by another type of retirement or pension plan.

SPIRE offers several IRA options including:

Traditional IRA
Roth IRA
Simplified Employee Pension Plan (SEP) IRA
IRA Certificate
IRA Money Market

Compare IRA Options

Traditional IRA

Roth IRA

Contributions may be tax deductible up to 100% depending on Annual Gross Income and employer-sponsored retirement planContributions are not tax deductible, taxes paid up front
Earnings grow tax-deferred until withdrawnEarnings grow tax-deferred
Withdrawals are taxed as incomeWithdrawals only taxed if withdrawn before age 59 ½, not required
As of January 1, 2020, Required Minimum Distributions (RMDs) are now required for members that turn 72. Members who were 70.5 or older in 2019 will need to continue taking required RMD.No required minimum distributions


IRA Money MarketRates Effective: 12/1/2023

Dividend APY*
$0 to $9,999.991.3421.35
$10,000 to $19,999.991.3421.35
$20,000 to $49,999.991.3421.35
$50,000 to $99,999.991.3421.35
$100,000 to $249,999.991.5881.60
$250,000 to $499,999.992.2272.25
$500,000 to $999,999.992.9603.00
$1,000,000 +3.4453.50

VIEW ALL RATES View all Rates icon
*Annual Percentage Yield.
At our discretion, dividend rates are subject to change on the first business day of each week and the first business day of each month (unless otherwise noted).

Truth in Savings Disclosure


See current Service Fee Schedule for additional information. Fees may reduce earnings.

Regulation D

Regulation D requires that during any calendar month you may not make more than six withdrawals or transfers from your savings account to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction. Transactions governed by Regulation D include, but are not limited to: automatic transfers from savings to checking for overdraft protection, automatic transfers from saving to any other account, telephone transfers from savings to any other account (including transfers made using Telephone Banking and the fax machine,) preauthorized payments from savings, transfers from savings to any other account using Personal Access Home Banking. Regulation D allows unlimited transfers and withdrawals from a saving account when made by mail, messenger, ATM, or in person, or when such withdrawals are made by telephone provided a check is mailed to the member. Transfers to repay loans at the credit union and to pay safe deposit box rent are also unlimited.

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