IRA Plans
An Individual Retirement Account (IRA) is a special savings plan that allows you to plan and save for retirement. The goal of the IRA plan is to help you maintain financial stability when you retire.
To open an IRA plan, a member must have an established savings account. USMFCU currently offers the following IRA accounts at competitive rates:
- Traditional IRA
- Roth IRA
- Coverdell/Educational IRA
We also offer IRA Certificates from 6 months to 2 years and IRA share accounts:
Individual Retirement Account (IRA) Share Accounts
- Interest: Paid monthly
- Minimum balance: $25.00
Individual Retirement Account (IRA) Certificate of Deposit Accounts
- Interest: Paid at maturity
- Minimum balance: $500
Federal insurance coverage and protection of up to $250,000
Remember to check with your tax advisor regarding IRAs and your retirement options.
Certificates
Effective Date: Tuesday, January 19th, 2021
| Term | Minimum Amount | Rate | APY |
|---|---|---|---|
| 6 months | $500.00 | 0.30% | 0.30% |
| 6 months | $75,000.00 | 0.30% | 0.30% |
| 12 months | $500.00 | 0.50% | 0.50% |
| 12 months | $75,000.00 | 0.50% | 0.50% |
| 18 months | $500.00 | 0.55% | 0.55% |
| 18 months | $75,000.00 | 0.60% | 0.60% |
| 2 years | $500.00 | 0.60% | 0.60% |
| 2 years | $75,000.00 | 0.65% | 0.65% |
| 3 years | $500.00 | 0.65% | 0.65% |
| 3 years | $75,000.00 | 0.75% | 0.75% |
| 4 years | $500.00 | 0.75% | 0.75% |
| 4 years | $75,000.00 | 0.85% | 0.85% |
| 5 years | $500.00 | 0.85% | 0.85% |
| 5 years | $75,000.00 | 0.95% | 0.95% |
Certificate rates include Regular CD's, Coverdell, Roth & Traditional IRA CD's.*APY=Annual Percentage Yield Penalty may apply for early withdrawal | |||