Individual Retirement Accounts (IRAs) are designed to help members save for retirement. The credit union offers Traditional and Roth IRAs savings accounts and certificates.
- Minimum opening balance:
- $5.00 – IRA Membership IRA Savings (Non Dividend Bearing Account)
- $500.00 – IRA Certificate Account
- $90,000.00 – IRA Jumbo Certificate
- Certificate terms: From 6 months – 5 years
- Deposits: Deposits limited by IRA annual limits.
- Withdrawal Penalty: Permitted according to IRS Regulations and subject to IRS penalties.
- Restrictions: IRA funds cannot be commingled with personal funds. Any non-IRA products or services must be on a separate main share account. Joint owners are not allowed on IRAs.
Benefits
- Makes you money by offering you a higher dividends on retirement funds.
- Saves you money by offering you a 7 calendar day grace period after renewal on certificates.
- Peace of mind knowing your retirement funds are federally insured.
Target
Members who want a secured retirement investment tool.