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Individual Retirement Accounts

An Individual Retirement Account (IRA) is a tax-sheltered retirement plan, originally created in 1974 to assist individuals not covered by company pensions.  This type of savings account yields a higher dividend rate than just a regular savings account.  This type of account allows individuals to prepare for their retirement.  There are different types of IRA's to choose from -- the Traditional, Roth and Educational Savings Account (ESA) which is designed to assist in saving money for your child's education. Consult your tax preparer to determine what type of IRA is best for you.

If you are interested in setting up an IRA please stop in and see a Member Service Specialist.


IRA Rates
Effective Date: 11/23/2020
TermMinimum To OpenNominal Dividend RateAPY*
IRA Shares $25.00 0.10% 0.10%
12-Month IRA Certificate $1,000.00 4.42% 4.49%
18-Month IRA Certificates $1,000.00 3.93% 4.00%
36-Month IRA Certificate $1,000.00 3.30% 3.35%


(Calculations all based on quarterly compounding)

All APY calculations, except Golden Share and Share Draft Accounts, based on $1,000.00 balance. Golden Share and Share Draft Account calculations based on $500.00.

* APY Calculations based on quarterly compounding and minimum balance as listed per account type. The rates as shown above are 1st QTR 2010 dividends as declared by the Board of Directors January 12, 2010.