Every dollar counts when you're saving for retirement. Individual Retirement Accounts (IRAs) allow you to make the most of every dollar you save by allowing you to save for retirement on either a tax-free or tax-deferred basis.
Along with our IRA options, we also offer retirement planning services that can help you invest wisely for your future.
Tax Benefits
Your savings can grow faster with an IRA than a traditional taxable savings account.
Earn Dividends Faster
Earn dividends at a higher rate than a traditional savings account.
IRA Options
IRAs are available for all wage earners - even if you are already covered by another type of retirement or pension plan.
Compare IRA Options
Traditional IRA
Contributions may be tax deductible up to 100% depending on Annual Gross Income and employer-sponsored retirement plan
Earnings grow tax-deferred until withdrawn
Withdrawals are taxed as income
As of January 1, 2020, Required Minimum Distributions (RMDs) are now required for members that turn 72. Members who were 70.5 or older in 2019 will need to continue taking required RMD.
Roth IRA
Contributions are not tax deductible; taxes paid up front
Earnings grow tax-deferred
Withdrawals only taxed if withdrawn before age 59 ½; not required
No required minimum distributions
Rates
IRA Money MarketRates Effective: 10/11/2024
Rate Type |
Dividend Rate | APY* |
|---|---|---|
| $0 to $9,999.99 | 1.193 | 1.200 |
| $10,000.00 to $19,999.99 | 1.193 | 1.200 |
| $20,000 to $49,999.99 | 1.193 | 1.200 |
| $50,000.00-$99,999.99 | 1.193 | 1.200 |
| $100,000 to $249,999.99 | 1.440 | 1.450 |
| $250,000 to $499,999.99 | 2.080 | 2.100 |
| $500,000 to $999,999.99 | 2.765 | 2.800 |
| $1,000,000 + | 3.251 | 3.300 |
*Annual Percentage Yield.
At our discretion, dividend rates are subject to change on the first business day of each week and the first business day of each month (unless otherwise noted).
Fees
See current Service Fee Schedule for additional information. Fees may reduce earnings.