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IRA (Individual Retirement Account)

An IRA is an account set up at a financial institution that allows an individual to save for retirement with tax-free growth or on a tax-deferred basis. The three main types of IRAs each have different advantages:

  • Traditional IRA - You make contributions with money you may be able to deduct on your tax return, and any earnings can potentially grow tax-deferred until you withdraw them in retirement. Retirees also find themselves in a lower tax bracket than they were in pre-retirement, so the tax-deferral means the money may be taxed at a lower rate.
  • Roth IRA - You make contributions with money you’ve already paid taxes on (after-tax), and your money may potentially grow tax-free, with tax-free withdrawals in retirement, provided that certain conditions are met.
  • Rollover IRA - A Traditional IRA intended for money "rolled over" from a qualified retirement plan. Rollovers involve moving eligible assets from an employer-sponsored plan, such as a 401(k) or 403(b), into an IRA.

Whether you choose a Traditional or Roth IRA, the tax benefits allow your savings to potentially grow, or compound, more quickly than in a taxable account.

Current Deposit Rates

Type of PlanAccount Balance RangeAnnual Dividend RateAnnual Percentage Yield (APY)
Regular Share Savings Account/ Christmas Club Share Savings Account
.04%.04%
Money Market Share Savings Account
Up to $24,999.99.40 %.40%
$25,000-$49,999.99.75%.75%
$50,000-$149,999.99.90%.90%
$150,000 and over1.30%1.30%
IRA Savings Account
Effective March 3, 2020
$100 - and over.28 %.28%
IRA Certificates
12 month certificate.98%.98%
24 month certificate1.80%1.81%
36 month certificate2.20%2.22%
48 month certificate2.25%2.27%
60 month certificate2.30%2.32%
Share Certificates
12 month certificate1.40%1.41%
24 month certificate1.80%1.81%
36 month certificate2.20%2.22%
48 month certificate2.25%2.27%
60 month certificate2.30%2.32%
Special Share Certificate30 month certificate2.40%2.43%
Step Up CheckingUp to $24,999.99.25%.25%
$25,000-$49,999.99.60%.60%
$50,000-$149,999.99.75%.75%
$150,000 and over1.15%1.15%

Credit/Debit Cards

All Credit Card issues:
1-855-639-9081

ATM/Debit Card Service Center for lost or stolen cards and fraud claims:
1-833-664-0357

Debit Card Activation:
1-800-992-3808

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Privacy Policy

American Share Insurance Logo

Your savings insured to $250,000 per account. This institution is not federally insured.
MEMBERS’ ACCOUNTS ARE NOT INSURED OR GUARANTEED BY ANY GOVERNMENT OR GOVERNMENT-SPONSORED AGENCY.

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