Save more. Secure your future.
Your Individual Retirement Account (IRA) can be established as either a Share Account or a Share Certificate. Both help you save for retirement.
- An IRA Share Account is a tax advantaged savings account with no fixed term.
- An IRA Certificate is a tax advantaged Share Certificate with a fixed term.
IRA Account Types
Share Certificate IRA
- Dividend rate is fixed for a period of time
- $2,000 minimum to open
- Dividends compounded daily and credited monthly
- 3 year and 5 year terms available
- Contributions are tax deductible
- Minimum distributions are required after age 72
- $10 minimum to open
- Dividends compounded and credited quarterly
- Contributions are not tax deductible
- Roth IRA contributions are made after taxes – so any qualified distributions in the future are tax free.
- There are no minimum distribution requirements.
Traditional and Roth IRA accounts are separately insured by NCUA up to $250,000.
Members under age 50 can contribute up to $6,000 and members over age 50 can contribute up to $7,000.
*Consult a tax advisor for details.
To open a retirement account, contact Member Services at 410-828-4730, 800-234-4730, [email protected], or visit one of our branches.