Traditional IRAs

Hawaii State FCU offers an IRA that provides members with potential tax savings while they save for retirement.

  • $100 minimum deposit
  • No minimum balance
  • Contributions may be tax-deductible for the year they are made
  • Earnings grow tax-deferred until withdrawn
  • Penalty-free withdrawals allowed for qualified higher-education expenses, first time home purchases, disability, qualifying medical expenses, attainment of age 59 1/2, or payment to beneficiaries upon death
  • Requirements include the stopping of contributions and the starting of withdrawals at age 70 1/2.


Roth IRAs

The Roth IRA allows Hawaii State FCU members who are either buying their first home, disabled, or 59 1/2 years of age to make tax-free withdrawals from this account, provided the account has been open for at least five years. Although contributions are non-deductible, interest and capital gains will accumulate federally tax-free, like a traditional IRA.

  • $100 minimum deposit
  • No minimum balance


Coverdell Education Savings Account

The Coverdell Education Savings Account offers Hawaii State FCU members an alternative way to pay for qualified higher-education expenses for their dependents. Contributions are limited to a maximum of $2,000 per child per year and must be made prior to the beneficiary reaching age 18. Monies in this savings account must be used by your dependents before age 30.

  • $100 minimum deposit
  • Unlimited check writing
  • No minimum balance requirement
  • Make up to a $2,000 annual, non tax-deductible contribution for your children under age 18
Consult your tax advisor for further information.


IRA Term Share

Lock into higher savings yields and build your retirement nest egg with a Hawaii State FCU IRA Term Share Account. Terms of 6, 12, 24, 36, and 60 months at competitive rates fixed for duration of term. No transaction costs or service fees.

  • $1,000 minimum deposit
  • Earn premium dividends for a specified term

The information above is not intended as tax advice. Please consult a tax professional with regard to your own situation.