IRAs

Want to save more for retirement, and save on taxes too? Even if you already have a 401(k), a flexible IRA account is a good way to supplement an employer-sponsored plan. Some of our IRAs are even held as fixed rate CDs with terms from 6 to 60 months, allowing you to create a savings strategy that works for you.

Information found here is not intended as tax advice. For information regarding your contribution deductibility and responsibilities, please contact your tax advisor.

 

Key features:

  • No maintenance fees
  • Variety of terms available

AS HIGH AS
4.87% APY2
18 Month Term

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Money Market Index IRA Savings

AS HIGH AS
0.90%
Annual Percentage Yield3

Open Account
  • Interest compounds daily
  • $15,000 minimum to open
  • Insured up to $250,000 by the NCUA

IRA Savings

AS HIGH AS
0.25%
Annual Percentage Yield4

Open Account
  • Interest compounds monthly
  • $100 minimum to open
  • Insured up to $250,000 by the NCUA

IRA CD

AS HIGH AS
4.87%
Annual Percentage Yield2

Open Account
  • Interest compounds monthly
  • As low as $1,000 minimum to open
  • Insured up to $250,000 by the NCUA

Current Rates:

Standard IRA CDs
($1,000 minimum to open)
TERM DIVIDEND APY1
6 Months 4.18% 4.26%
12 Months 4.61% 4.71%
18 Months 4.66% 4.76%
24 Months 4.41% 4.50%
36 Months 4.17% 4.25%
48 Months 3.93% 4.00%
60 Months 3.93% 4.00%
1 APY (Annual Percentage Yield) is accurate as of May 3, 2023 and is subject to change at any time. Fees could reduce the earnings on the account. There is a penalty for early withdrawal. Must maintain a minimum $1,000 balance to earn APY. Dividend and interest is compounded monthly and credited monthly.
Jumbo IRA CDs
($50,000 minimum to open)
TERM DIVIDEND APY2
6 Months 4.28% 4.36%
12 Months 4.71% 4.81%
18 Months 4.76% 4.87%
24 Months 4.51% 4.60%
48 Months 4.03% 4.11%
60 Months 4.03% 4.11%
2 APY (Annual Percentage Yield) is accurate as of May 3, 2023 and is subject to change at any time. Fees could reduce the earnings on the account. There is a penalty for early withdrawal. Must maintain a minimum $50,000 balance to earn APY. Dividend and interest is compounded monthly and credited monthly.
Money Market Index IRA Savings
($15,000 minimum to open)
BALANCE DIVIDEND APY3
$15,000 - $24,999.99 0.60% 0.60%
$25,000 - $49,999.99 0.70% 0.70%
$50,000+ 0.90% 0.90%
3 APY (Annual Percentage Yield) is accurate as of November 03, 2022 and is subject to change at any time. Fees could reduce the earnings on the account. Dividend and interest is compounded daily and credited monthly.
IRA Savings
($100 minimum to open)
BALANCE DIVIDEND APY4
$50,000+ 0.25% 0.25%
4 APY (Annual Percentage Yield) is accurate as of November 03, 2022 and is subject to change at any time. Fees could reduce the earnings on the account. Dividend and interest is compounded monthly and credited monthly. Must maintain a minimum $50,000 balance to earn APY.

Types of IRAs

Traditional

Under 70 ½ years old and want to make contributions that may be tax-deductible? Think you'll be in a lower tax bracket after you retire? A traditional IRA will help you save money.

Features:
  • Contributions may be tax-deductible
  • Ideal if in a lower tax bracket during retirement
  • Withdrawals taxed at applicable rate during retirement
  • Make withdrawals penalty-free after age 59 ½

Roth

Want to make IRA contributions that are not tax deductible? A Roth IRA is ideal if you'll be in a higher tax bracket when you retire.

Features:
  • Make withdrawals tax and penalty-free after having the Roth for 5 years and after age 59 ½.

Coverdell Education Savings Account

Saving for education expenses?

Features:
  • Anyone can make contributions
  • May be used for elementary or secondary education expenses
  • May be transferred to another education savings account for another child

Simplified Employee Pension

If you are self-employed or a small business owner, this plan allows to contribute to your personal retirement as well as separate IRAs for your employees.

Features:
  • Attract and retain staff by offering a retirement benefit
  • Employees can choose their investment type
  • Employer can contribute even if the employee doesn't participate

Smart saving habits start here!

Being informed means you’re empowered to make smart financial decisions. And smart financial decisions, means you can avoid common mistakes, save more, and invest better. These online courses help you better understand what it takes to do what’s best for you and your loved ones.

Banking Literacy

Checking & Savings Resource Center

Already have a IRA with EECU? The Checking & Savings Resource Center is where you can find common support topics, answers to frequently asked questions, and important program details.

Visit the Resource Center

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