IRAs

Start planning for a comfortable retirement now with an Individual Retirement Account (IRA).

It's never too early to start savings for retirement — the earlier the better. Your savings will compound interest over time and your nest egg will grow exponentially larger!

Traditional vs. Roth

Traditional ira

Contributions are often tax-deductible - you pay less in income taxes in the year for which you made the contribution
You are eligible if you have earned compensation
Earnings are tax deferred until time of withdrawal
"Catch up" contributions available to those 50 years of age

roth ira

Contributions (not earnings) without penalty can be withdrawn at any time
You must have earned income in order to open a Roth IRA
There is no mandatory distribution age
Early withdrawals of earnings can result in tax and a penalty

IRA Savings vs. IRA Certificate

Members can choose for their IRA to be a savings accumulation account or open an IRA Certificate. The accounts can be funded with cash or a transfer from an IRA account at another financial institution.

ira savings

An IRA Savings Account can be a great tool if you want to start saving from scratch to eventually invest in an IRA Certificate. There is no minimum balance requirements, and if you have direct deposit with us, deposit a fixed amount into your IRA savings each pay to build it up! IRA Savings accounts have a variable rate, no fixed term, and dividends are paid quarterly.

IRA Savings Rates

    
            Min Bal*
            APY***
            Dividend Rate**
        

            $100.00
            0.25%
            0.250%
        

            $10,00.01
            0.25%
            0.250%
        

            $25,000.01
            0.25%
            0.250%
        

Effective April 3, 2023

*Minimum balance to earn dividends.
**Rates are subject to change without notice.
***APY=Annual Percentage Rate

IRA CERTIFICATE

An IRA Certificate allows you to earn higher dividends than IRA Savings Accounts. Terms and interest rates reflect the same terms and rates available on Share Certificates. The minimum balance to open an IRA Certificate is just $500.

Share/IRA Certificate Rates

    
            Term
            Min Deposit
            Dividend Rate*
            APY**
        

            3 Month
            $500.00
            2.65%
            2.68%
        

            6 Month
            $500.00
            4.00%
            4.07%
        

            12 Month
            $500.00
            3.90%
            3.97%
        

            18 Month
            $500.00
            3.40%
            3.45%
        

            24 Month
            $500.00
            2.90%
            2.94%
        

            36 Month
            $500.00
            3.15%
            3.20%
        

            48 Month
            $500.00
            3.50%
            3.65%
        

            60 Month
            $500.00
            3.65%
            3.71%
        

Effective September 23, 2024

*Rates are subject to change without notice.
**APY=Annual Percentage Yield

To get started on opening an Eagle One IRA, contact us today.