IRA
A Traditional IRA (Individual Retirement Account) could be beneficial for long-term retirement planning. PFCU offers a Traditional IRA Savings account and IRA Share Certificate. Many of our members find that income from IRAs augments their Social Security benefits in retirement.
IRA contributions may be made in a lump sum, by regular deposits, or by payroll deduction. You may also roll over a lump sum you receive from another qualified retirement account. We can help you figure out your options.
Contributions may be tax-deductible depending on your income, marital status and whether you have a retirement plan at work.
Taxes are deferred on earnings. Withdrawals can be made IRS penalty-free at age 59-1/2 and are taxed as ordinary income.
Additional benefit comes from possibly being in a lower tax bracket at retirement age.
IRA Savings Account
No minimum balance
Dividends are compounded and credited quarterly
| Minimum Balance To Open | Minimum Balance to obtain APY** | Dividend Rate | APY** |
|---|---|---|---|
| $0.00 | $0.00 | 0.03% | 0.03% |
IRA Share Certificates
Minimum deposit $1,000
Fixed-rate for the entire term of the certificate
Terms range from 3 months to 48 months
Dividends are compounded daily and credited monthly on the last day of the month
Schedule an appointment to speak to a member services representative about opening a traditional IRA by calling us at (609) 945-6200 Option 4.
IRA Certificate Rates & Terms
| Term | Minimum Balance To Open | Minimum Balance To Obtain APY** | Dividend Rate | APY** |
|---|---|---|---|---|
| 3 Months | $1,000.00 | $1,000.00 | 3.63% | 3.70% |
| 4 Months SPECIAL | $1,000.00 | $1,000.00 | 4.35% | 4.44% |
| 6 Months | $1,000.00 | $1,000.00 | 3.44% | 3.50% |
| 9 Months | $1,000.00 | $1,000.00 | 3.15% | 3.20% |
| 12 Months | $1,000.00 | $1,000.00 | 2.95% | 2.99% |
| 13 Months SPECIAL | $1,000.00 | $1,000.00 | 2.97% | 3.01% |
| 18 Months | $1,000.00 | $1,000.00 | 1.49% | 1.50% |
| 24 Months | $1,000.00 | $1,000.00 | 1.49% | 1.50% |
| 36 Months | $1,000.00 | $1,000.00 | 1.00% | 1.00% |
| 48 Months | $1,000.00 | $1,000.00 | 1.00% | 1.00% |
| 60 Months | $1,000.00 | $1,000.00 | 1.00% | 1.00% |
Rates are subject to change without notice and are effective as of today's date listed at the top of this page. Please note – fees could reduce the earnings on your account(s). Early withdrawal of funds from IRAs may be subject to IRS penalties.