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Overview
What is an IRA?
IRA stands for Individual Retirement Account. This account type helps you save for retirement, at a tax-advantage. It’s a great way to prepare for the future and feel more secure.
Your long-term partner
You know the importance of personalized care and building long-term relationships. That importance holds true not only in the healthcare world, but also in the financial one. You want a partner by your side that genuinely cares for your wellbeing, whether you’re just opening your first checking account, or getting ready to retire. LifeCU is not-for-profit and member-focused. We want to stay with you every step of the way by offering great service and stellar rates on all kinds of financial products, including IRAs.
- Reduce your tax burden
- Contribute up to $5000 annually
- Choose between a Traditional or Roth IRA
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Rates
Traditional IRA/Roth IRA Term Certificate
Dividend Rate Annual Percentage Yield Minimum Opening Balance Minimum Balance to Earn APY Dividends Compounded & Credited Dividend Period 12 Months 2.00% 2.00% $4,000 $4,000 at maturity at maturity 18 Months 2.10% 2.10% $4,000 $4,000 at maturity at maturity 24 Months 2.20% 2.20% $4,000 $4,000 at maturity at maturity 36 Month 2.30% 2.30% $4,000 $4,000 at maturity at maturity 48 Months 2.50% 2.50% $4,000 $4,000 at maturity at maturity 60 Months 2.85% 2.85% $4,000 $4,000 at maturity at maturity Traditional IRA, Roth IRA, and Coverdell Education Savings Account
Dividend Rate Annual Percentage Yield Minimum Opening Balance Minimum Balance to Earn APY Dividends Compounded & Credited Dividend Period 0.10% 0.11% $100 $100 Quarterly Quarterly -
Questions
Frequently Asked Questions
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Yes. The minimum opening balance is $100.
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You can contribute up to $5,000 annually or 100% of your yearly earnings, whichever is less.
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For a Roth IRA, you will pay taxes upfront, but won't have to pay any taxes on the money when you withdraw it in retirement. A Traditional IRA will reduce your initial tax burden, since you can deposit the money without paying taxes on it, but you will pay taxes on your distributions in retirement.
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Make your golden years truly golden by opening an account today.
