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An Individual Retirement Account (IRA) helps you prepare for your future, while a Coverdell Education Savings Account (ESA) can help you save for a child’s education. More than savings, grow your investment with earned interest. The money you set aside today can make a big difference tomorrow!

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Even if retirement seems a long time away, plan to start saving sooner rather than later to match your current lifestyle to your future goals. There are two basic options for Individual Retirement Accounts: Traditional IRAs and Roth IRAs. We offer IRA Savings Accounts and IRA Certificates for both Traditional and Roth IRAs.

 Traditional IRARoth IRA
RequirementsInitial deposit of $250
Must be under age 70½
Initial deposit of $250
No age limit
Contributions & EarningsContributions are made with earned income and may be partly or fully tax deductible.
Earnings grow tax-deferred until withdrawn.
Contributions are made with after-tax dollars.
Earnings grow tax-free and distributions may be tax-free if certain guidelines are met.
DistributionsRequired minimum distributions beginning at age 70½.No required distributions; greater flexibility.

Our Member Service Representatives can show you options to meet your financial goals. Please contact us at 800-442-7792, use the Open an Account form, or visit a branch near you to get started. Consult your tax advisor.

Resources

Grow Your Savings Traditional IRAsRoth IRAs

Taking A Closer Look At EligibilityExploring Your IRA OptionsMoving Into a Roth IRA

View Tax Withholding Notice

Current Rates

IRA Certificates

Minimum Balance $250

Quarterly Posted Dividend Certificates
Term
(Months)
Compound Dividend RateAnnual Percentage Yield (APY)
30.25%0.25%
60.40%0.40%
120.50%0.50%
180.60%0.60%
240.70%0.70%
300.80%0.80%
360.90%0.90%
480.95%0.95%
601.05%1.05%
Rates are subject to change daily. Monthly Distributed Dividend Certificates are available. Call the credit union for current rates, terms and conditions. A penalty is imposed for early withdrawal of share certificates.

IRA Plus Certificates

Minimum Balance $10,000

Quarterly Posted Dividend Certificates
Term
(Months)
Compound Dividend RateAnnual Percentage Yield (APY)
30.40%0.40%
60.55%0.55%
120.65%0.65%
180.75%0.75%
240.85%0.85%
300.95%0.95%
361.05%1.05%
481.10%1.10%
601.20%1.21%
Rates are subject to change daily. Monthly Distributed Dividend Certificates are available. Call the credit union for current rates, terms and conditions. A penalty is imposed for early withdrawal of share certificates.

A Coverdell Education Savings Account (ESA) is a type of IRA that allows you to save money for higher education or qualified elementary and secondary school expenses and pay for qualified education expenses tax-free.

  • Minimum opening deposit $250
  • Contribute up to $2,000 per child annually
  • Contributions are not allowed after the child reaches age 18 (except for special needs beneficiaries)
  • Qualified expenses include tuition, fees, books, computer equipment and technology required for elementary, secondary and post-secondary education

Learn more: Coverdell Education Savings Accounts – Answers to Your Questions

 

Our Member Service Representatives can show you options to meet your financial goals. Please contact us at 800-442-7792, use the Open an Account form, or visit a branch near you to get started. Consult your tax advisor.

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