IRA
Retire safely and securely with an Individual Retirement Account (IRA) from Industrial.
Types of IRA Accounts offered at Industrial Credit Union:
- Traditional: If you want a tax deduction now or if you think you’ll be in a lower tax bracket when you retire, a Traditional IRA is a sensible choice.
- Roth: If flexibility is what you need, consider a Roth IRA. It’s a good fit if you don’t need the tax break now.
- Savings Certificates: Gearing up for changes? IRA funds are eligible to roll into Savings Certificate as a shorter term option.
Please contact your tax adviser prior to making your final decision on which IRA best suits your needs.
IRA accounts are subject to a $10 enrollment fee. *APY = Annual Percentage Yield. Dividends are compounded and credited monthly using a daily balance method. Rates subject to change without notice. Fees could reduce earnings. Penalty may be imposed for early withdrawal. Your savings federally insured to at least $250,000 by the NCUA. |
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| Tier | Balance Range | APY* | Rate |
|---|---|---|---|
| 1 | $0 – $24,999 | 0.40% | 0.40% |
| 2 | $25,000 – $49,999 | 0.50% | 0.50% |
| 3 | $50,000 – $74,999 | 0.75% | 0.75% |
| 4 | $75,000 – $99,999 | 1.00% | 1.00% |
| 5 | $100,000 – $149,999 | 1.00% | 1.00% |
| 6 | $150,000+ | 1.25% | 1.24% |
*APY = Annual Percentage Yield. Dividends are compounded and credited monthly using a daily balance method. Rates subject to change without notice. Fees could reduce earnings. Penalty may be imposed for early withdrawal. Your savings federally insured to at least $250,000 by the NCUA. |
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| Term | APY* | Rate | Minimum to Open |
|---|---|---|---|
| 6-Month | 1.50% | 1.49% | $1000 |
| 12-Month | 2.50% | 2.47% | $1000 |
| 18-Month | 2.75% | 2.72% | $1000 |
| 24-Month | 3.00% | 2.96% | $1000 |
| 36-Month | 3.25% | 3.20% | $1000 |
| 48-Month | 3.00% | 2.96% | $1000 |
| 60-Month | 2.50% | 2.47% | $1000 |
Below are some additional resources to help you with your decisions.
