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 automatically 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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