How do you plan to pay for retirement?
At Eastern Utah Community Credit Union, we offer IRA Certificates along with our regular IRA accounts at competitive interest rates. This account is designed to help our members accumulate money for retirement.
A Simplified Employee Pension Plan, commonly known as a SEP-IRA, is a retirement plan specifically designed for self-employed people and small-business owners. When establishing a SEP-IRA plan for your business, you and any eligible employees establish your own separate SEP-IRA; employer contributions are then made into each eligible employee's SEP-IRA.
A Traditional IRA is a tax-advantaged arrangement that allows earnings and deductible contributions to grow tax-deferred. That means you don’t pay income taxes on the earnings and deductible contributions of your IRA until you begin taking withdrawals, usually after you retire and possibly are in a lower tax bracket.
A Roth IRA allows you to accumulate earnings on a tax-deferred basis and withdraw earnings tax-free for qualified distributions. Unlike a Traditional IRA, contributions to a Roth IRA are not deductible from your gross income on your federal income tax return. However, since you have already paid taxes on the money you’ve contributed to the account, contribution dollars can be withdrawn at anytime without tax consequences.
An Education IRA is a custodial account or trust, exclusively for the purpose of paying the qualified higher-education expenses of the designated beneficiary. Education IRAs must accept contributions only in cash, and cannot accept contributions for a beneficiary after the beneficiary turns 18.
TRADITIONAL IRA SHARE CERTIFICATE
| TERM | APY |
|---|---|
| 6 Month Certificate | 5.250%* |
| 12 Month Certificate | 5.000%* |
| 18 Month Certificate | 4.318%* |
| 24 Month Certificate | 4.318%* |
| 36 Month Certificate | 4.060%* |
| 60 Month Certificate | 3.803%* |
*APY = Annual Percentage Yield. Rates and terms are accurate as of Friday, March 1, 2024 and are subject to change.
ROTH IRA SHARE CERTIFICATE
| TERM | APY |
|---|---|
| 6 Month Certificate | 5.250%* |
| 12 Month Certificate | 5.000%* |
| 18 Month Certificate | 4.318%* |
| 24 Month Certificate | 4.318%* |
| 36 Month Certificate | 4.060%* |
| 60 Month Certificate | 3.803%* |
*APY = Annual Percentage Yield. Rates and terms are accurate as of Friday, March 1, 2024 and are subject to change.
IRA MONEY MARKET
| MINIMUM BALANCE | APY |
|---|---|
| $1,000.00 | 0.752%* |
| $2,500.00 | 1.508%* |
| $10,000.00 | 1.660%* |
| $25,000.00 | 1.762%* |
| $50,000.00 | 2.269%* |
| $100,000.00 | 3.034%* |
| $150,000.00 | 3.034%* |
| $200,000.00 | 3.290%* |
*APY = Annual Percentage Yield. Rates and terms are accurate as of Friday, March 1, 2024 and are subject to change. Account limited to six (6) withdrawals per month.
