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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 0.55% 0.55% $4,000 $4,000 at maturity at maturity 18 Months 0.60% 0.60% $4,000 $4,000 at maturity at maturity 24 Months 0.65% 0.65% $4,000 $4,000 at maturity at maturity 36 Month 0.75% 0.75% $4,000 $4,000 at maturity at maturity 48 Months 0.85% 0.85% $4,000 $4,000 at maturity at maturity 60 Months 1.00% 1.00% $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 0.05% 0.05% $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. Go to the IRAs page.
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Make your golden years truly golden by opening an account today.
