Individual Retirement
Accounts (IRAs)
Whether you want to travel the world or spend your golden years at home with your family, it takes planning for a comfortable retirement. When you open, move or roll over your IRA with us, you’re putting your nest egg in a secure place where it will continue to grow tax-free.
Traditional IRA
A Traditional Investment Retirement Account (IRA) is an excellent means of saving for retirement with tax benefits that help you accumulate your savings faster. Your contributions are made up to a specified limit per year and these are good investments before and after you retire.
- Flexible fixed-rate term options from 12 months to 60 months
- Earns higher monthly yields, which are compounded monthly
- Safe and secure investment
- Free online banking, mobile banking, and telephone banking
- A minimum opening deposit of $500
Good to know:
Certain penalties apply for early withdrawal of funds. See fee schedule and disclosure for complete details
Roth IRA
A Roth Investment Retirement Account (IRA) is a tax-advantaged savings vehicle for retirement. The Roth IRA is funded with post-tax contributions and offers you more access and more flexibility to your money. As long as you have met the 5 year holding period, which begins with the tax year for which your first contribution is made, your Roth IRA earnings can be withdrawn tax-free and penalty free for specific distribution reasons.
- Dividends are paid monthly
- Safe and Secure Investment
- Funds may be invested in an IRA Accumulator or IRA Certificate of Deposit
- Ability to make contributions conveniently with payroll deductions
- Distribution of funds is not mandatory
Good to know:
- Minimum opening deposit of $500 for an IRA Certificate of Deposit
- Applications typically take 24 – 48 hours to process
- Funds you contribute and earn can be withdrawn tax-free and penalty free, once the 5 year holding period is reached, and if one of the following qualified distributions apply:
- You become disabled
- Funds are used for qualified medical expenses
- Funds are used towards a first-time home purchase, up to $10,000
- Your death results in a distribution made to the account beneficiary (or your estate)
MEMBER DEPOSITS ARE NOW INSURED UP TO$1,000,000
Savings & Checking
Rate Effective Date: April 1, 2024
| Type | Initial Deposit | Annual Percentage Yield (APY) | Rate |
|---|---|---|---|
| Roth IRA | $10 | 0.100% | 0.100% |
Certificates
Rate Effective Date: April 1, 2024
| Term | Minimum Balance | Annual Percentage Yield (APY) | Rate |
|---|---|---|---|
| 3 months* | $500 | 3.750% | 3.687% |
| 6 months* | $500 | 4.420% | 4.121% |
| 12 months | $500 | 4.500% | 4.410% |
| 18 months | $500 | 4.250% | 4.169% |
| 24 months | $500 | 4.001% | 3.929% |
| 36 months | $500 | 3.750% | 3.687% |
| 48 months | $500 | 3.750% | 3.687% |
| 60 months | $500 | 3.600% | 3.541% |
| Save to Win Certificate 12 months** | $25 | 4.250% | 4.169% |
Calculate
your investment
Final Balance
Contributions: $ | Earnings: $
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