IRA Certificate

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.

Yes, there is a 10-business day grace period from the open date or date of maturity in which additional money can be added.

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.

There is a 10-business day grace period from the date of maturity.

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.

A dividend is money earned based on the money deposited and the current APY.

Yes, you are able to deposit dividends to an account within the same membership.

Yes, there is a 10-business day grace period from the open date or date of maturity in which the term can be changed.

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.

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.

Yes, the minimum is $100.

We offer both Traditional and Roth IRA Certificate accounts