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.
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:
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
$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
$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
