More people than ever before are now eligible to take advantage of the incredible tax advantages available through IRAs.


Nest Eggs and MoneySTAR offers both IRA Savings and IRA Certificates for three types of Individual Retirement Accounts—Traditional, Roth and Coverdell Educational Savings Accounts (formerly Education IRA). Earnings within Traditional IRAs are generally not taxed until they are distributed and contributions are tax-deductible for many taxpayers. Earnings within Roth and Coverdell Educational Savings are generally not subject to federal taxes. Over time these special tax features can result in significantly larger IRA savings accumulations than can be earned with ordinary savings tools.

Traditional IRA
This IRA offers tax-deferred earnings and the possibility for tax-deductible contributions until distributions begin at retirement age. These tax advantages make the traditional IRA a powerful tool in creating a balanced, long-term savings plan.

Roth IRA
These contributions are not tax-deductible. However, the money in a Roth IRA, including earnings, is not taxed when you begin withdrawing funds at retirement.

Education Savings Account (ESA)
The purpose of this account is to help you pay for your child’s education expenses, such as tuition, fees, books, supplies, equipment and in some cases, room/board and computers. The contributions are not tax deductible.

IRA Savings

  • You need only $10 to open an IRA Savings account
  • You may transfer an IRA from another financial institution (or broker) to STAR
  • IRA Savings are insured separately from your other deposits at STAR
  • NCUA insured up to $250,000 for Traditional and Roth and $250,000 for the Coverdell Education Savings Accounts
  • $10 yearly IRA maintenance fee applies

IRA Certificates

  • Traditional, Roth, and the Coverdell Education IRA Certificates
  • Functions like a certificate – choose your term, earn consistent dividends, and reinvest for maximum earnings.
  • Minimum opening deposit of $1,000.
  • NCUA insured up to $250,000 for Traditional and Roth and $250,000 for the Coverdell Education Savings Accounts.
  • $10 yearly IRA Maintenance Fee applies.

Click on the links below for informational brochures:


This information is for educational purposes only and is not intended to provide specific tax or legal advice. For answers to tax questions, please see your tax professional. For legal questions, consult an attorney.

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