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icon-banking-irasIndividual Retirement Accounts (IRAs)

Whether your retirement is just around the corner or decades down the road, an Individual Retirement Account (IRA) is a smart way to build a secure financial future. With a variety of options available, Signal Financial FCU gives you the flexibility to choose the IRA that’s right for you.

Traditional IRA Savings Account

A Traditional IRA allows you to defer taxes on your earnings until they are withdrawn beginning at the age of 70½.

  • Contributions may be tax-deductible in the year they are made
  • Contributions can be made as long as you have earned income
  • Minimum of $2,000 required to open account or accumulation feature starting at $5

IRA Accumulation

$5 – $1,999

0.35%

0.35%

IRA Share

$2,000+

0.50%

0.50%

Roth IRA Savings Account

The Roth IRA features tax-free withdrawals for certain distribution reasons after a five-year holding period.

  • Contributions are nondeductible and taxed in the year they are earned
  • Unlike the Traditional IRA, you are NOT required to take distributions at age 70½.
    Members who expect to be in a higher tax bracket when they retire may benefit more from a Roth IRA than from a Traditional IRA
  • Minimum of $2,000 required to open account or accumulation feature starting at $5

IRA Accumulation

$5 – $1,999

0.35%

0.35%

IRA Share

$2,000+

0.50%

0.50%

IRA Share Certificates*

A great way to earn higher dividends, IRA Share Certificates* are available in terms of 12 to 72 months, with a minimum deposit of $2,000. 

IRA and Roth IRA Certificates

 Term

Minimum Balance

Dividend Rate

APY**

12 Months

$2,000

0.75%

0.75%

18 Months

$2,000

0.80%

0.80%

24 Months

$2,000

0.90%

0.90%

30 Months

$2,000

1.05%

1.06%

36 Months

$2,000

1.35%

1.36%

48 Months

$2,000

1.60%

1.61%

60 Months

$2,000

1.75%

1.76%

72 Months

$2,000

1.80%

1.81% 

Simplified Employee Pension Plans (SEPs)

A retirement plan designed to benefit business owners – including the self-employed –Simplified Employee Pension Plans (SEPs) offer tax benefits and are funded using a Traditional IRA Savings or Certificate.

IRA Accumulation

$5 – $1,999

0.35%

0.35%

IRA Share

$2,000+

0.50%

0.50%

IRA and Roth IRA Certificates

Term

Minimum Balance

Dividend Rate

APY**

12 Months

$2,000

0.75%

0.75%

18 Months

$2,000

0.80%

0.80%

24 Months

$2,000

0.90%

0.90%

30 Months

$2,000

1.05%

1.06%

36 Months

$2,000

1.35%

1.36%

48 Months

$2,000

1.60%

1.61%

60 Months

$2,000

1.75%

1.76%

72 Months

$2,000

1.80%

1.81%

Please call 301-933-9100, ext. 298, or visit any Signal Financial FCU branch to open an account.

 


Note: IRA deposits are insured separately to $250,000 by NCUA. Please see Signal Financial FCU Truth in Savings Disclosure for details.

*IRA Share Certificates subject to Signal Financial FCU penalties upon early withdrawal.

**APY = Annual Percentage Yield. The rates quoted above are accurate and effective for the above accounts as of the effective date indicated. Certificate rates remain fixed for the term of the certificate. Unless otherwise paid, dividends for certificates of 182 days or less are compounded daily and paid at maturity. Dividends of Certificates and IRA certificates of 12 to 72 months are compounded daily and paid quarterly. Fees or other conditions could reduce the earnings on the account. A penalty may be imposed for withdrawals before maturity. Please see the Truth in Savings Disclosure for more information. If you have any questions or need current rate information on your accounts, please call 301-933-9100 x 298.

Rates subject to change.