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Idaho Central Credit Union
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Individual Retirement Accounts (IRAs)

IRA & Retirement

Investing in an Individual Retirement Account (IRA) provides flexibility for your changing financial needs. If you haven’t explored the advantage of planning early for your retirement, it’s time to take a look. Funds in all Idaho Central accounts are federally insured up to $250,000, and we pay great rates.

View our informative IRA brochure

See Rates
IRA Savings Account
Balance APY* Interest Rate
0-299 0.100% 0.099%
300+ 0.150% 0.149%

IRA Money Market Savings Account
Balance APY* Interest Rate
0-2,499 0.000% 0.000%
2,500-24,999 0.350% 0.349%
25,000-49,999 0.500% 0.498%
50,000-99,999 0.550% 0.548%
100,000+ 0.750% 0.747%

IRA Certificate of Deposit Account
Term APY* Interest Rate Initial Deposit
6 Month Promo CD 2.750% 2.750% $500
12 Month Promo CD 5.000% 4.908% $500
18 Month Promo CD 4.000% 3.941% $500
24 Month Promo CD 4.550% 4.474% $500
60 Month Promo CD 3.750% 3.698% $500
3 Month CD 0.050% 0.050% $500
6 Month CD 0.200% 0.200% $500
1 Year CD 0.400% 0.399% $500
18 Month CD 0.450% 0.449% $500
2 Year CD 0.500% 0.499% $500
3 Year CD 0.550% 0.548% $500
4 Year CD 0.600% 0.598% $500
5 Year CD 0.750% 0.747% $500

A penalty may be imposed for early withdrawal. No institutional deposits. Fees may reduce earnings.
*APY - Annual Percentage Yield
Rates valid for Wednesday, February 1, 2023.
The interest rate and annual percentage yield may change at any time, as determined by the credit union board of directors.

Click below to determine which Individual Retirement (IRA) Account is best for you:

Roth IRA Traditional IRA SEP IRA

Roth IRA

A Roth IRA is best for you if you want tax-free withdrawals.* With a Roth IRA, qualified distributions are tax-free* and contributions are allowed at any age. Roth IRAs earn a higher interest rate than regular savings.

  • Annual contribution limit is $6,000 up to the age of 50
  • Annual contribution limit is $7,000 for age 50 or older
  • View our informative Roth IRA brochure

Account Type Details
Roth IRA Savings Account $300 minimum balance to earn interest. $25 to minimum to open.
Roth IRA Money Market Savings Account $2,500 minimum balance. $10 monthly fee if balance falls below $2,500.
Roth IRA 6-Month Promo CD $500 initial deposit. 10-day renewal grace period and a 1-time additional deposit in first 60 days.
Roth IRA 12-Month Promo CD $500 initial deposit. 10-day renewal grace period and a 1-time additional deposit in first 60 days.
Roth IRA 18-Month Promo CD $500 initial deposit. 10-day renewal grace period and a 1-time additional deposit in first 60 days.
Roth IRA 24-Month Promo CD $500 initial deposit. 10-day renewal grace period and a 1-time additional deposit in first 60 days.
Roth IRA 60-Month Promo CD $500 initial deposit. 10-day renewal grace period and a 1-time additional deposit in first 60 days.

*Consult your tax advisor

Traditional IRA

A Traditional IRA is best if you want tax-deferred earnings and the possibility for tax-deductible* contributions. With a Traditional IRA, Earnings accumulate tax-deferred, contributions are tax-deductible* if qualified. Traditional IRAs earn a higher interest rate than regular savings.

  • Annual contribution limit is $6,000 up to the age of 50
  • Annual contribution limit is $7,000 for age 50 or older
  • Contributions can be made until age 70 1/2
  • View our informative Traditional IRA brochure

Account Type Details
Traditional IRA Savings Account $300 minimum balance to earn interest. $25 to minimum to open.
Traditional IRA Money Market Savings Account $2,500 minimum balance. $10 monthly fee if balance falls below $2,500.
Traditional IRA 6-Month Promo CD $500 initial deposit. 10-day renewal grace period and a 1-time additional deposit in first 60 days.
Traditional IRA 12-Month Promo CD $500 initial deposit. 10-day renewal grace period and a 1-time additional deposit in first 60 days.
Traditional IRA 18-Month Promo CD $500 initial deposit. 10-day renewal grace period and a 1-time additional deposit in first 60 days.
Traditional IRA 24-Month Promo CD $500 initial deposit. 10-day renewal grace period and a 1-time additional deposit in first 60 days.
Traditional IRA 60-Month Promo CD $500 initial deposit. 10-day renewal grace period and a 1-time additional deposit in first 60 days.

*Consult your tax advisor

SEP IRA

A Simplified Employee Pension (SEP) IRA is best if you are self-employed or own a small business and want to save for retirement. With a SEP IRA, earnings accumulate tax-deferred, contributions may be tax-deductible for the employer* if qualified. SEP IRAs earn a higher interest rate than regular savings.

  • Annual contribution limit may be higher than other IRAs*
  • Contributions can be made by the business owner
  • A self-employed person can make SEP contributions to their own IRA
  • View our informative SEP IRA brochure

Account Type Details
SEP IRA Savings Account $300 minimum balance to earn interest. $25 to minimum to open.
SEP IRA Money Market Savings Account $2,500 minimum balance. $10 monthly fee if balance falls below $2,500.
SEP IRA 6-Month Promo CD $500 initial deposit. 10-day renewal grace period and a 1-time additional deposit in first 60 days.
SEP IRA 12-Month Promo CD $500 initial deposit. 10-day renewal grace period and a 1-time additional deposit in first 60 days.
SEP IRA 18-Month Promo CD $500 initial deposit. 10-day renewal grace period and a 1-time additional deposit in first 60 days.
SEP IRA 24-Month Promo CD $500 initial deposit. 10-day renewal grace period and a 1-time additional deposit in first 60 days.
SEP IRA 60-Month Promo CD $500 initial deposit. 10-day renewal grace period and a 1-time additional deposit in first 60 days.

*Consult your tax advisor

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Calculators

Roth vs. Traditional IRA Calculator Retirement Shortfall Calculator

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Idaho Central is the premier credit union in Idaho and offers full-service locations throughout the Treasure Valley, Magic Valley, Eastern Idaho, North Idaho, and Spokane. While growth is vital to our success, we remain focused on our mission, “Helping members achieve financial success.”

Routing Number: 324173626   NMLS ID: 433926

Idaho Central Credit Union is federally insured by the National Credit Union Administration.
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