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Certificates & IRAs

If you are looking for a longer-term savings option with a high dividend rate and less risks than many other forms of investments, then a Certificate of Deposit or IRA may be the right solution for you.

Terms range from six months to four years.
$1,000 minimum opening balance for regular Certificates/IRAs.
$95,000 opening deposit for Jumbo Certificates/IRAs.
Dividends are earned daily and compounded monthly.
No account fees or application fees.
Funds are federally insured by the NCUA to at least $250,000.

Certificate of Deposit

A Certificate of Deposit is a high yield savings account that accumulates interest over time. Unlike a traditional savings account, a Certificate has a term attached, which means that the funds cannot be accessed for a certain period of time without incurring a penalty. Typically, the longer the term, the higher the interest rate. This is a great option if you are saving for a long-term goal such as buying a house and don’t need to be able to access the funds early.

Individual Retirement Accounts (IRAs)

IRAs are powerful savings tools that can help you save for retirement and even offer tax benefits. We offer Traditional, Roth, and Educational IRAs, all with no monthly maintenance fees, account fees or application fees.

Traditional IRA

A Traditional IRA offers tax-deferred earnings and the possibility for tax-deductible contributions. All earnings in the Traditional IRA are not taxed until they are withdrawn.

Roth IRA

The Roth IRA allows you to contribute (depending on your income) after-tax dollars with earnings growing tax free. You pay no taxes when you withdraw the money, provided you have had the account for a least five (5) years and you are age 59 or older. In addition, you may withdraw, without penalty, up to $10,000 for a first-time home purchase. Another Roth IRA benefit is that you don’t have to begin withdrawing money at age 70 ½, like a Traditional IRA.

Coverdell Educational IRA

Save for a child’s higher education expenses with this IRA. You can invest up to $2,000 a year per child younger than 18, depending on your income. Earnings on Education IRA contributions grow tax free. You cannot deduct contributions, but, when you withdraw funds, you pay no taxes or withdrawal penalties if they’re used for qualified higher education expenses before the beneficiary reaches age 30. Unused funds, however, may be rolled over to an Education IRA for another child.

* Please note, IRA contributions and withdrawals are subject to IRS rules and regulations. Consult with your tax advisor for more information.