IRA SHARE CERTIFICATE
An IRA Share Certificate is an Individual Retirement Account that combines the tax advantages1 of a Traditional IRA or Roth IRA with the security of a share certificate (which is the same as a bank CD).
While IRAs typically invests in stocks, bonds and mutual funds, IRA Share Certificate invests in Credit Union share certificates (like bank certificates of deposit). They’re a safe place for your retirement because your dividend rate won’t fluctuate with the market.
How it works
- Make a minimum opening deposit of $500
- Choose a term from 30 days up to 60 months
- Contribute up to $6,000 each tax year ($7,000 if you’re over age 50) at any time until the tax deadline
- Enjoy tax-deferred growth
- Rest assured, your savings are safe because they’re federally insured by NCUA up to $250,000
- Will automativally renew for the same term on the maturity date unless you otherwise specify
How to qualify
- Anyone with earned income can make contributions
- Tax-deductibility is subject to income limitations if you already participate in an employer-sponsored plan
- If your adjusted gross income is less than $144,000 if single, or $214,000 if married, consider a Roth IRA or Traditional IRA
OPEN AN ACCOUNT
Call 800.462.8328, ext. 4300
Monday through Friday, 7 a.m. - 7 p.m.
Saturday, 9 a.m. - 3 p.m.
- Please consult a qualified tax professional for tax advice on your specific circumstances.
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