Member Story: From First Home to Retirement Dreams
Tammy MacLean, a Vantage member for over 30 years, worked with our credit union to finance her first home.
IRA Accounts
Plan today, retire with peace of mind.
We’re here to help you build the retirement you deserve. Choose from Traditional or Roth IRAs from a credit union with competitive IRA rates designed to grow with your goals.
- Tax advantages
- Competitive rates
- Local guidance
Compare IRA Options
Choose the IRA that's right for you.
Join thousands of your neighbors in St. Louis who've started building their retirement with an IRA from Vantage Credit Union. Let's find the right fit for you.
Tax Advantages Contribution
May be tax-deductible
Not tax-deductible
Earnings
Taxes are deferred until you begin withdrawing funds
Tax-deferred and possibly tax free if you meet eligibility requirements
Contributions Maximum Contributions
Under Age 50: $7,000
Age 50 and over: $8,000
Age 50 and over: $8,000
Under Age 50: $7,000
Age 50 and over: $8,000
Age 50 and over: $8,000
Eligibility
Anyone with earned income may contribute; however, contributions may be limited depending on MAGI tables
Anyone with earned income may contribute; however, contributions may be limited depending on MAGI tables
Withdrawals Tax/Penalty Consequences
All earnings and deductible contributions are taxable upon withdrawal
Penalties will be assessed if withdrawals are taken before age 59 ½, or if withdrawals are not taken by age 73
Penalties will be assessed if withdrawals are taken before age 59 ½, or if withdrawals are not taken by age 73
Contributions can be withdrawn anytime without taxes or penalties
Earnings can be withdrawn without taxes and penalties if you're at least 59½ and your account has been open for 5 years or more
Earnings can be withdrawn without taxes and penalties if you're at least 59½ and your account has been open for 5 years or more
Distribution Requirements
Required minimum distributions upon reaching age 73
None
Exceptions to Penalties
Some exceptions are made if funds are used for a first-time home purchase, education or certain medical expenses
Some exceptions are made if funds are used for a first-time home purchase, education or certain medical expenses
Traditional IRA
Save for retirement with deductible pre-tax dollars.
Tax Advantages Contribution
May be tax-deductible
Earnings
Taxes are deferred until you begin withdrawing funds
Contributions Maximum Contributions
Under Age 50: $7,000
Age 50 and over: $8,000
Age 50 and over: $8,000
Eligibility
Anyone with earned income may contribute; however, contributions may be limited depending on MAGI tables
Withdrawals Tax/Penalty Consequences
All earnings and deductible contributions are taxable upon withdrawal
Penalties will be assessed if withdrawals are taken before age 59 ½, or if withdrawals are not taken by age 73
Penalties will be assessed if withdrawals are taken before age 59 ½, or if withdrawals are not taken by age 73
Distribution Requirements
Required minimum distributions upon reaching age 73
Exceptions to Penalties
Some exceptions are made if funds are used for a first-time home purchase, education or certain medical expenses
Roth IRA
Invest after-tax dollars toward your retirement.
Tax Advantages Contribution
Not tax-deductible
Earnings
Tax-deferred and possibly tax free if you meet eligibility requirements
Contributions Maximum Contributions
Under Age 50: $7,000
Age 50 and over: $8,000
Age 50 and over: $8,000
Eligibility
Anyone with earned income may contribute; however, contributions may be limited depending on MAGI tables
Withdrawals Tax/Penalty Consequences
Contributions can be withdrawn anytime without taxes or penalties
Earnings can be withdrawn without taxes and penalties if you're at least 59½ and your account has been open for 5 years or more
Earnings can be withdrawn without taxes and penalties if you're at least 59½ and your account has been open for 5 years or more
Distribution Requirements
None
Exceptions to Penalties
Some exceptions are made if funds are used for a first-time home purchase, education or certain medical expenses
Financial Tool
More Ways to Grow Your Money
Take savings strategy to the next level.
“I believe my entire life has been financed by Vantage.”
"We were actually able to refinance our house at a very competitive rate with personalized service."
"Vantage has really helped me to prepare for my future as well. My husband and I are talking about maybe in retirement purchasing a lake house."
"Because of the financial literacy that I have learned through Vantage and all their programs they offer, my credit score has increased 300 points."
“Starting with Vantage at such a young age was helpful because they were able to really set me up to be financially literate as an adult.”
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Featured Articles
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Celebrating 65 Years of Member Successes
Vantage is 65 years young! That’s right, Vantage was founded by educators in 1957.