IRA Certificate Accounts
MINIMUM INITIAL DEPOSIT: $1,000
|ACCOUNT||ANNUAL PERCENTAGE YIELD||COMPOUNDING PERIOD|
*A penalty will be assessed for early withdrawal
All rates are subject to change without notice. For the most up-to-date rates, please call Member Services at 800.877.4444. The Annual Percentage Yield (APY) stated for all accounts is accurate as of the date listed. Annual Percentage Yield assumes deposits, and dividends paid, are held to maturity. Penalties may be applied for early withdrawal on term accounts. Fees could reduce actual earnings. Refer to “Terms and Conditions” for other account information.
Information accurate as of January 5, 2021.
“The best time to plant a tree was 20 years ago. The second best time is now.” – Chinese Proverb (edited)
Frequently Asked Questions
Is there a penalty for an early withdrawal?
Yes, if you make a withdrawal from your certificate before the maturity date (end date), a penalty will be charged – the penalty is based on the term.
Is there a withdrawal period when the term is over?
There is a 10-business day grace period from the date of maturity.
What happens if I don’t withdraw the money during the withdrawal period?
Certificates automatically roll into a new certificate of the same term at the current Annual Percentage Yield (APY) unless otherwise disclosed or the member makes changes to the Share Certificate.
What is a dividend?
A dividend is money earned based on the money deposited and the current APY.
Can my dividends be deposited into another account?
Yes, you are able to deposit dividends to an account within the same membership.
Can I change the term of my Share Certificate after opening?
Yes, there is a 10-business day grace period from the open date or date of maturity in which the term can be changed.
Can I add money after it is opened?
Yes, there is a 10-business day grace period from the open date or date of maturity in which
What is the difference between a Traditional IRA or a Roth IRA?
With a Traditional IRA, you defer taxes now, but pay taxes on your withdrawals during retirement and requires that you begin taking distributions when you reach age 72 on or after 2020 (previously 70 ½). With a Roth IRA, the contributions made are from your after-tax income and generally allow you to make tax-free withdrawals after retirement at age 59 ½ or older.
What does compounded monthly mean?
Compound interest allows you to earn interest not only on the amount you deposited, but on the total amount you have in your account – that includes the interest you earned before.
Is there a maximum contribution amount?
The maximum annual contribution amount is $6,000 if you under age 50. The annual amount can change. Check irs.gov for the most current contribution limits.
Is there a minimum to earn dividends?
Yes, the minimum is $100.
Is the IRA Certificate Account a Traditional or Roth?
We offer both Traditional and Roth IRA Certificate accounts