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Invest Today for a Prosperous Tomorrow.

Key Features

  • No Annual Fees or Setup Fees
  • Competitive Dividends
  • Tax Advantages*

An Individual Retirement Account Certificate of Deposit (IRA CD) allows you to save for retirement while taking advantage of the tax benefits of an IRA.

Here's the advantage of an IRA CD: With a traditional CD, the interest earned is subject to income tax in the year it is earned. In contrast, with an IRA CD, the interest you earn is tax-deferred until you withdraw the funds from your IRA account. This means that you won't have to pay taxes on the interest you earn until you start making withdrawals from your IRA, which is typically after age 59 1/2.

General IRA details

  • Competitive dividends above standard savings rates
  • Traditional and Roth IRA options
  • No setup fees
  • No monthly or annual maintenance fees
  • For 2024, the IRA contribution limits are $7,000 for those under age 50 and $8,000 for those age 50 or older
  • An additional $1,000 "catch-up" contribution allowed for ages 50+
  • Funds can be used to purchase CDs or Money Markets within the IRA
  • No minimum deposit to open
  • Federally insured by NCUA

Check Rates

There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA

  • No income limits to open
  • No minimum contribution requirement
  • Contributions are tax deductible on state and federal income tax1
  • Earnings are tax-deferred until withdrawal (when usually in the lower tax bracket)
  • Withdrawals can begin at age 59½
  • Early withdrawals are subject to penalty2
  • Mandatory withdrawals at age 72
  • No age limit on making contributions as long as you have earned income

Roth IRA

  • Income limits to be eligible to open Roth IRA3
  • Contributions are NOT tax-deductible
  • Earnings are 100% tax-free at withdrawal1
  • Principal contributions can be withdrawn without penalty1
  • Withdrawals on interest can begin at age 59½
  • Early withdrawals on interest are subject to penalty2
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income

1 Subject to some minimal conditions. Consult a tax advisor.

2 Certain exceptions apply, such as healthcare, purchasing a first home, etc.

3 Consult a tax advisor.

Create an easier transition into college for yourself and your student by setting up a savings account early. A Coverdell Education Savings Account (ESA) provides a tax-free safe place to grow competitive dividends and also financial confidence for a new stage in life.

  • Set aside funds for your child's education
  • No setup or annual fee
  • Dividends grow tax-free
  • Withdrawals are tax-free and penalty-free when used for qualified education expenses1
  • Designated beneficiary must be under 18 when contributions are made
  • To contribute to an ESA, certain income limits apply2
  • Contributions are not tax deductible
  • $2,000 maximum annual contribution per child
  • The money must be withdrawn by the time he or she turns 303
  • The ESA may be transferred without penalty to another member of the family
  • $X minimum deposit to open

1 Qualified expenses include tuition and fees, books, supplies, board, etc.

2 Consult your tax advisor to determine your contribution limit.

3 Those earnings are subject to income tax and a 10% penalty.

*Consult a tax advisor.