IRA Accounts
Individual Retirement Accounts (IRA) offer tax-deferred growth on your investment. An IRA account provides the opportunity for tax-deductible contributions for people who don’t participate in an employer-sponsored plan or are interested in supplementing their retirement benefits and/or Social Security benefits. An IRA account can be an effective approach to future financial planning. WCCU offers the following types of IRA Accounts:
IRA Certificate of Deposit
- Minimum deposit of $500.00
- IRA CDs available in 6, 12, 24 and 36 month terms
- Any fees accessed may reduce the accrued dividends earned
- Offer higher savings interest rates for your investment
- Quarterly interest
- The dividend rate and annual percentage yield (APY) on these variable rate accounts may change every quarter as determined by our Board of Directors.
IRA Savings Account
Just starting an IRA account? There is no minimum balance and getting started is really very simple. You can deposit on your own schedule, set up automatic transfers from another WCCU account, or set up payroll direct deposit for your account for weekly or bi-weekly deposits. It couldn’t be easier. Set it up and watch it grow! Once your account balance has reached $500, you then have the opportunity to purchase an IRA Share Certificate of Deposit.
Choose from Traditional IRAs, Roth and Educational IRAs. You just have to be a member of Wexford Community Credit Union with a Regular Share (Savings) Account. Please note: although there is no minimum balance to open there may be a minimum balance to earn interest.
An IRA account requires Wexford Community Credit Union membership, which means you will have a regular share account which requires a minimum $5.00 par balance.
For information about the benefits of each account type and which best suits your needs, consult a tax adviser. When you are ready to contribute to an IRA, please contact Wexford Community Credit Union. We are here to help you save for your future.
