Traditional IRA
Invest in your Retirement with a Traditional IRA
When it comes to planning for your retirement, your mantra should be save early, save often. A Traditional Investment Retirement Account (IRA) is a savings plan where contributions may be tax-deductible and interest earnings are tax-deferred. Not only do you get the benefit of saving with a great interest rate on a term certificate, but you may also be able to reduce the amount of money you owe in income taxes when you make a contribution. Details of our traditional IRA include:
- Contributions may be tax deductible.
- Earnings are tax deferred.
- New and rollover accounts can be opened.
- $5,000 annual contribution limit.
- $6,000 annual contribution limit if age 50 or older.
- Federally insured in a VSECU Certificate.
All future withdrawals are treated as taxable income. At VSECU we want to help all Vermonters ensure their financial stability in retirement. Start investing for your retirement today by opening a Traditional IRA with VSECU.
| Account Type | Minimum Daily Balance to Earn APY | APY | ||
|---|---|---|---|---|
| IRA Savings | None | 0.10% | ||
| 1 Year Certificate | $500 | .60% | ||
| 2 Year Certificate | $500 | .60% | ||
| 3 Year Certificate | $500 | .85% | ||
| 4 Year Certificate | $500 | 1.05% | ||
| 5 Year Certificate | $500 | 1.40% | ||
| Accounts are compounded and credited monthly and charge a penalty for early withdrawal. Annual Percentage Yield (APY) subject to change without notice.View Rate Sheet for more requirements. | ||||
Helping Your Balance Go UP
You can apply to open additional savings or checking accounts as well as certificates or money market accounts at any branch location.
