Now is the perfect time to invest in your “Golden Years”….
Do you wonder how you’re going to maintain your current lifestyle after you retire? With scientific advances in medicine, people are living longer than ever before. And as we live longer, it seems that the Social Security fund continues to shrink while the cost of living climbs higher and higher. That makes maintaining the lifestyle to which you are accustomed quite a challenge. But more and more people are starting their own retirement accounts in addition to employer pension funds and Social Security.
We can help with a credit union Individual Retirement Account (IRA). IRAs provide that extra measure of security and peace of mind you need as you plan for your retirement. And the earlier you start the more you’ll accumulate, whether you make a one-time contribution or annual contributions.
We offer both traditional and Roth IRAs with two investment options – regular IRA accounts (structured much like regular share savings accounts), and IRA share certificates, in which one can deposit funds of a specific amount, for a specific term at a specific rate. And both earn competitive dividends. For regular IRA rates and IRA share certificate rates and terms, see our Dividend Rate Schedule.
There is no minimum required to open a regular IRA share account. Dividends are declared at the end of each quarter, for that quarter, and are posted to the accounts on the last night of each calendar quarter. Dividends are calculated using the average daily balance method with a $200.01 minimum average daily balance required to earn a dividend.
The minimum required to open an IRA share certificate is $1,000.00. Dividends are declared monthly and are posted the last night of each calendar quarter. Dividends are calculated by the simple interest method using a 365-day basis. The National Credit Union Administration, a U.S. government agency, insures IRAs separately from your other credit union funds up to $250,000.00. To learn more about your insured funds, click on NCUA’s Share Insurance Tool Kit.
For fees associated with IRA accounts, see our Fee Schedule.