We prefer our Roth IRAs without all those pesky fees.
Big Banks Can Equal Big Fees. We’d Rather Just Help You Save.
Pay taxes now—enjoy tax-free withdrawals later. With Star One, you also skip the fees: no setup, administration, or annual maintenance charges.
Roth IRAs may offer greater tax savings and more withdrawal flexibility than Traditional IRAs. Contributory and Conversion plans are available.
While contributions aren’t tax-deductible, both contributions and earnings can be withdrawn tax-free with qualified distributions. Plus, there are no annual withdrawals required. Eligibility is based on income.
- Convenient payroll allocations and automated deposits
- Automatic IRA distributions available
- Automatic renewal on Certificate Accounts with 10-calendar-day grace period beginning on maturity date to make changes.
- Competitive IRA interest rates
- Knowledgeable, qualified staff who’re rooting for you
- No required minimum distributions
** Annual Percentage Yield
Roth IRA Account Summary
| Qualifications: | Must have earned income. There are no age restrictions. |
| Maximum Contributions: | 2024: $7,000 2025: $7,000 Plus $1,000 "catch-up" contribution (if age 50 or over during the year) |
| 2024 Contribution Deadline: | April 15, 2025 |
| Tax Status of Earnings: | Earnings grow tax-deferred. Tax-free on qualified withdrawals. |
| Nonrefundable Tax Credit: | You may be eligible to receive a credit (not to exceed $1000 or $2000 for married couples filing jointly) on your contribution if you meet certain requirements. |
| Contribution Restrictions: | Yes, 2025 contributions phase out between $150,000 – $165,000 for singles and $236,00 - $246,000 for married couples filing jointly. Married filing separate phase-out: $0 - $10,000 Yes, 2024 contributions phase out between $146,000 - $161,000 for singles and $230,000 - $240,000 for married couples filing jointly. Married filing separate phase-out: $0 - $10,000 |
| Tax Deduction: | No |
| IRS Penalties for Early Withdrawal: | None if:
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| Required Distributions: | Only after death of the participant |
| Contribution Age Limit: | None |
Roth IRA Investment Options
- Savings Account - $100 minimum deposit or $25 with automated deposits
- Certificate Accounts - $100 minimum deposit or $25 with automated deposits, 6-month, 1-year and 2-year terms
Traditional and Roth IRA Accounts are separately insured to $250,000 by the National Credit Union Administration, an agency of the United States Government. Coverdell Education Savings Accounts are insured under the same provisions as irrevocable trust accounts.