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IRA

 

As It’s our job to take care of our credit union family; we’re here to help you make the right kinds of decisions regarding your financial future. We offer you three investment alternatives to choose from, don’t forget, we’re always willing to help customize a personal plan. Every dollar you contribute builds up your retirement savings, and Coast360 Federal Credit Union has an Individual Retirement Account suited for you.


Traditional IRA


Do you have $5.00 dollars?  That’s all you need to start your retirement plan. Do you have another $5.00?  Great; we can open a spousal IRA account for the two of you. Making regular contributions adds up to big retirement savings. Contributions are usually tax deductible** and members can make voluntary withdrawals as early as age 59 1/2.

 

ROTH IRA


Different strokes for different folks. Although there are subtle differences in this retirement plan from the traditional IRA, this might be the plan for you. You can make a maximum $3,000 contribution per year, post-tax. Distributions, including dividends, are tax free**, and members can make penalty-free withdrawals as early as age 59 ½.

 

Coverdell Educational IRA


We understand the importance of saving for an education. This IRA allows members to contribute a maximum of $2,000 per year to an account designated for the higher education of children until they reach 18. When it comes time to use the savings for qualified educational expenses such as tuition, you can withdraw your contributions and dividend earnings tax-free.**


 

 

Traditional - ROTH- Educational IRAs
Minimum Deposit
APY*
IRAs Traditional / ROTH / & Coverdell ESA
$5
1.30%

12 Months

$500

1.40%
12 Months Jumbo
$100,000
1.60%
24 Months
$500
1.90%

24 Months Jumbo

$100,000

2.15%
36 Months
$500
1.95%
36 Months Jumbo
$100,000
2.20%
48 Months
$500
2.19%
48 Months Jumbo
$100,000
2.41%
60 Months
$500
2.18%
60 Months Jumbo
$100,000
2.45%


*All rates are expressed as Annual Percentage Yields and are subject to change without notice. Yields are effective September 1, 2010. Minimum amount required to open a regular timeshare is $500.00, a minimum of $100,000.00 to open jumbo timeshares and a minimum of $5.00 for IRAs, early withdrawal penalties apply. Applicable fees may reduce the earnings of the accounts. Products and services offered are available to qualified members. Includes trust, UGMA and all IRAs.


** Check with your tax consultant for more information.

 

Rates

IRA
Effective Date: June 23, 2010
NameRate
IRAs Traditional/ROTH/ & Coverdell ESA 1.30%
IRA 12 Months 1.75%
IRA 24 Months 2.25%
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