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Routing number 267080355

Accounts – IRA

Take advantage of tax benefits.

Two of our options to
financially prepare for retirement

Traditional IRA

A Traditional IRA will help you save for retirement with contributions that are tax deductible based on your income* and your earnings also grow tax-deferred, meaning you only pay tax when you make a withdrawal. Contribute up to $6,500 per year for 2023, or if you're 50 or older, up to $7,500 for 2023. Once you are age 59-½ or older, you are eligible to make penalty-free withdrawals. Once you reach age 72, you must take a required minimum distribution (RMD) every year.

Traditional IRA Benefits

  • No Monthly Fees
  • Competitive Rate
  • Dividends accrue daily and compounded monthly
  • No minimum balance required
  • Catch up contributions for those 50 or older
  • View your balance anytime with online banking

*Tax laws are subject to change. Contact a tax professional for more details. We are unable to provide financial advice but can answer questions on specific IRA products.

Roth IRA

You contribute to a Roth IRA using after-tax dollars, but you do not have to pay any taxes on investment gains. When you retire, you can withdraw from the account without incurring any income taxes on your withdrawals. Roth IRAs also do not have required minimum distributions (RMDs). If you don't need the money, you don't have to take it out of your account. You can still contribute to a Roth IRA as long as you have eligible earned income, no matter how old you are.

Roth IRA Benefits

  • No Monthly Fees
  • Qualified earnings can be withdrawn tax free*
  • No minimum balance required
  • No required minimum distributions
  • View balances anytime with online banking

*Certain restrictions apply. Not all taxpayers are eligible. Consult your tax advisor for details.

This isn't over Jet. We also have:

IRA Certificate Account

To earn more on your money, open an IRA Certificate, with fixed rates and terms ranging from 6 to 60 months.

Start winning at retirement savings.

Call or visit any of our branch locations to get started with your IRA today.


Account Type Minimum Opening Deposit Minimum Balance Minimum to Earn Dividends Annual Percentage Yield (APY) Dividend Rate Rate Fixed/Variable Dividends Compounded Paid
IRA Savings $1.00 0 $1.00 0.15% 0.15% Varies Monthly


Where do I send checks for deposit to my JetStream IRA account?

Mailing Address
JetStream Federal Credit Union
PO BOX 5487
Miami Lakes, FL 

Is there a penalty for withdrawing from my Traditional IRA before I retire?

The purpose of an IRA is to save for retirement, so this tax-advantaged savings feature is specifically designed to discourage investors from withdrawing funds before turning age 59½. If you do so, the IRS imposes a 10 percent penalty on top of the income taxes you pay on the withdrawal. There are some exceptions that allow early withdrawal without penalty, so please speak with a JetStreamFCU representative for more details.

I make too much money to qualify for an IRA tax deduction. Can I contribute to my traditional IRA?
Yes. There are no income limits to make contributions to a traditional IRA. Your ability to make deductions may be affected by filing status and your participation in an employer retirement plan.
When am I required to begin withdrawing money from my traditional IRA?
You must begin to annually withdraw a required minimum distribution (RMD) from your IRA once you turn 72 years of age, RMD guidelines, set by the IRS, ensure that investors don't use an IRA as a permanent shelter from income taxes.
Can I name a beneficiary for my IRA?
Yes. There are specific rules and forms to ensure that your IRA funds are dispersed to your intended beneficiary, in case of death. You can use the Individual Retirement Account Beneficiary Designation/Change form to select your beneficiary.
Is there a limit on the number of IRA rollovers that can be done?
Yes. Effective January 1, 2015, the IRS imposed the new IRA Rollover rule which stipulates that an IRA owner may complete only one IRA-to-IRA rollover per 365 days, regardless of how many IRAs you own, without differentiating between Traditional, Roth and SEP IRAs. This change of only one rollover per year will only affect rollovers, and will not have any impact on trustee-to-trustee transfers. The once-per-365-day rule does not apply to the direct rollover of 401(k) funds to a Traditional IRA.

Federal Insurance

The National Credit Union Administration (NCUA) is a U.S. government agency that federally insures your savings accounts up to $250,000. Plus, individual retirement accounts are insured separately up to $250,000.

What does this mean for you? This means that the deposits that you make at JetStream Federal are protected by an established U.S. government agency. By putting your trust in our Miami-based credit union, you can rest easy knowing that your money is in good hands.

For more information on how your accounts are federally insured, take a few minutes to review this information provided by the NCUA:

Regulation D is a federal regulation which places certain limits on the number of transfers or withdrawals members can make from their savings, club, and money market accounts. Click to learn more about Reg. D

Miami Lakes

Phone: (305) 821-7060
Fax:     (305) 819-8072


Phone: (305) 821-7060
Fax:     (305) 418-4922

Mercy Hospital

Phone: (305) 821-7060
Fax:     (877) 233-6283

Puerto Rico

(305) 821-7060 ext. 8799
(800) 426-3556
(877) 213-2954 Fax

Shared Branch Locations

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