Account Details
No matter what age you are, an Individual Retirement Account (IRA) is a great tool to help you prepare for a more comfortable retirement.
Retirement plans, social security benefits, and pension plans may not provide sufficient funds for you to maintain your current non-retirement lifestyle. The more you save today, the less you’ll have to worry as you age. With an Individual Retirement Account, you can safely save for your future while earning exceptional rates.
- Traditional IRA
- Traditional IRA - SEP Contribution
- Roth IRA
- Education Savings Account (ESA)
| Dividend Rate | APY* | |
|---|---|---|
| IRA Savings Account | 0.050% | 0.05% |
| Term | Dividend Rate | APY*2 |
|---|---|---|
| 12-17 months | 3.695% | 3.76% |
| 18-23 months | 3.501% | 3.56% |
| 24-29 months | 3.550% | 3.61% |
| 30-35 months | 3.598% | 3.66% |
| 36-41 months | 3.598% | 3.66% |
| 42-47 months | 3.550% | 3.61% |
| 48-53 months | 3.550% | 3.61% |
| 54-60 months | 3.453% | 3.51% |
Individual Retirement Accounts (IRA) - AACU Credit Union IRA FAQs
A Traditional IRA grows tax-deferred, so you pay taxes on withdrawals in retirement, while a Roth IRA uses after-tax contributions for tax-free withdrawals later. Your current versus expected future tax bracket usually guides the choice.
IRA contribution limits are set annually by the IRS and apply the same way across Traditional and Roth IRAs. A tax advisor or Retirement Central representative can confirm the current year's limit for your situation. Review Certificates of Deposit for another fixed-rate savings option.
An IRA certificate at AACU locks in a fixed dividend rate for terms up to 60 months, layering guaranteed growth on top of your retirement account's tax advantages. A $500 minimum deposit applies, matching standard certificates.
IRA withdrawal rules, including penalty-free ages and required minimum distributions, are set by the IRS and apply regardless of where your account is held. Retirement Central resources can walk you through your specific timeline.
Members can roll over funds from a previous employer's retirement plan or another IRA into a new IRA through Retirement Central, keeping the tax-deferred or tax-free status intact. Retirement Central handles the transfer process directly.
1 A minimum balance of $500.00 is required to open and earn dividends on Certificate Accounts or an IRA Certificate. Early withdrawal penalties may apply.
*APY=Annual Percentage Yield. APY accurate as of the last dividend declaration date. Rates subject to change. Fees may reduce earnings. Restrictions and requirements apply.
Retirement Central is not a product of or controlled by AACU.