Skip to main content

Establish financial security for your retirement years with a Traditional or Roth IRA.

IRA Savings and Share Certificates

Open a Traditional or Roth IRA Savings Account with a $25 minimum deposit. There is no term limit and you can add money as you save; up to the yearly amount specified by IRS regulations.  

A Traditional or Roth IRA Certificate gives you guaranteed returns at higher dividend rate than a retirement savings account. IRA Certificates are available in terms ranging from one to five years with a minimum initial opening deposit of $500 to $1,000.

Traditional and Roth IRAs

For tax purposes, you may designate your account as a Traditional IRA or a Roth IRA. Adjusted Gross Income (AGI) limitations apply for contributions and deductions to both account types. Consult your tax advisor to determine which you qualify for and how to maximize the tax advantages using each in your retirement plan.

A Traditional IRA is tax-deferred. This means your contribution is most likely tax-deductible, but you will pay income tax on the withdrawal you make during retirement. Individuals can contribute to a traditional IRA past age 72, provided they have earned taxable income. Contributions are limited up to $6,500 annually. Owners age 50 and older may contribute up to $7,500 annually. You can withdraw funds from your Traditional IRA any time after you reach age 59 1/2 and you are required to take minimum distributions at age 72. Be sure to consult your tax advisor.

Roth IRA contributions are not tax-deductible — contributions are made with after-tax dollars. However, Roth IRAs have tax-free earnings. This means you will not pay income tax on the withdrawal you make during retirement — your money is growing tax-free. You can withdraw your contributions and earnings without penalty after you reach age 59 1/2 and have held the account for 5 years. (There is no minimum distribution requirement at any age.)  You can withdrawal contributions you made to your Roth IRA anytime, tax-and-penalty-free. However, you may need to pay taxes and penalties on your earnings in your Roth IRA. Additionally, the Roth IRA offers special penalty-free withdrawals for specific life events such as first-time home purchase or college expenses. Be sure to consult your tax advisor.

Traditional IRA FAQs

Roth IRA FAQs

Retirement Savings Account Rates
Effective Feb 09, 2023
Description Dividend APY* Min Open Deposit
IRA Savings 0.10% 0.10% $25
*APY = Annual Percentage Yield

Retirement Certificate Account Rates
Effective Feb 09, 2023
Type Term Dividend APY*
Current Promotion (IRA Certificate) 23 mo 4.75% 4.85%***
Current Promotion (IRA Certificate) 18 mo 3.75% 3.82%**
IRA Certificate 5 yr 2.00% 2.01%
IRA Certificate 4 yr 2.00% 2.01%
IRA Certificate 3 yr 2.00% 2.01%
IRA Certificate 2 yr 1.75% 1.76%
IRA Certificate 1 yr 1.00% 1.00%
*APY = Annual Percentage Yield. Minimum opening deposit of $1,000, and must be maintained throughout the term of the certificate. Early withdrawal penalties may apply. Advertised rates are rounded to the nearest one hundredth of one percentage point.
**Rate as of 10/04/2022. Minimum opening deposit of $500, and must be maintained throughout the term of the certificate. IRA certificates are subject to IRS contribution limits. Early withdrawal penalties may apply. Advertised rates are rounded to the nearest one hundredth of one percentage point. The 18-month  IRA certificate must be opened at a Securityplus Federal Credit Union branch location and must be funded with money not currently on deposit with Securityplus (new money); or, a member must have a qualifying monthly direct deposit of $500 established with Securityplus. A qualifying direct deposit is defined as a recurring Direct Deposit of a paycheck, pension, Social Security, or other regular monthly income electronically deposited by an employer or an outside agency into a share account with Securityplus. Securityplus reserves the right to end or modify this offer or update the stated Annual Percentage Yield (APY) at any time.  
***Rate as of 10/20/2022. Minimum opening deposit of $10,000, and must be maintained throughout the term of the certificate.  IRA certificates are subject to IRS contribution limits. Early withdrawal penalties may apply. Advertised rates are rounded to the nearest one hundredth of one percentage point. The 23-Month  IRA certificate must be opened at a Securityplus Federal Credit Union branch location or by calling 410-281-6200 and must be funded with money not currently on deposit at Securityplus (new money). Special certificate renews automatically to a standard 24-month term at the rate in effect at the time of renewal, unless instructed otherwise. Securityplus reserves the right to end or modify this offer or update the stated Annual Percentage Yield (APY) at any time.


How's your retirement plan looking?


When do you see yourself retiring? How much income will you need to live comfortably? What if you had access to an experienced financial professional who cares as much about your future as you do? Whether you’re looking for complete retirement guidance, assistance with a specific financial goal, or just a second opinion, we’d love to help.



Ready to Open an IRA?
Call or visit a branch to get started.
 

Join Securityplus Today

Becoming a member of our Credit Union is easy! It only takes a few minutes to apply and make the $5.00 minimum deposit to open your Share Savings account. Benefit from lower lending rates, higher dividend rates, fewer or lower fees, and more!

+MemberResources

Find a Branch or ATM
+