Individual Retirement Accounts (IRAs)
Retirement should be a time to relax; North Star Credit Union wants to help you by making sure you have the money when you need it.
- Traditional and Roth IRAs available
- Share/Savings IRA Accounts
- IRA Certificate of Deposits 12 mo or 24 mo only (current rates apply)
With a traditional IRA, you may invest up to the amount allowed by the U.S. Government, and contributions may be partially or fully deductible depending on your income and participation in an employer-sponsored plan. Withdrawals may not be made without penalty until age 59 ½ unless they are for higher education expenses or the purchase of a first home. Earnings are tax-deferred until withdrawn, and distributions must occur at age 70 ½.
With a Roth IRA, you may also contribute up to the amount allowed by the U.S. Government. Contributions may be withdrawn tax-free anytime, but are not tax deductible. Dividend income is subject to taxation, except after five years to buy a first home, or for any purpose after age 59 ½. Contributions from earned income can be made after age 70 ½, and mandatory distributions are not required.
*Consult a tax advisor for recommendations
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Certificate of Deposit Rates (APY & IRA)
- All Rates are Subject to Change.
- Minimum Deposit of $500 penalty for early withdrawl (cannot be combined with the parade special)
- Dividends Compounded Daily 6-8 months = 90 days and 24-60 Months = 180 days
- An additional premium is available on certificates only. To get Relationship Reward Rate add 0.25% to the APR. Relationship Reward is for having at least $50,000 in the same account for at least the past 3 months.
|Term||Standard Rate APY||Relationship Rate|
|Minimum Balance||Rate (APR)|
|$10 initial share deposit||0.50% Variable|
Rates effective April 27, 2017 and subject to change without notice