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Save for retirement with your credit union.
IRAs are Savings accounts designed to help wage earners save for retirement. Many members may still be eligible to deduct their IRA contributions from their taxable income. For them, IRAs are great investments. For those who may not take the deduction, an IRA still remains one of the best methods to save for retirement. Because IRA earnings are sheltered from taxes, IRAs grow faster than ordinary savings accounts.
View tiers and rates
IRA accounts to fit your needs.
IRA/Savings offers the flexibility of saving with a minimum investment.
IRA/CD allows a guaranteed interest rate to be locked in for the length of the term.
Roth IRA our investment growth is federally tax-free when withdrawn as part of a qualified distribution (as defined by the IRS).
Traditional IRA is a good choice if you're eligible to make a deductible contribution and expect your tax rate during retirement to be lower than it is today. Any investment growth is tax-deferred, and you won't pay federal income taxes on your deductible contributions or any earning until you withdraw money on or after reaching the age 59½.
To find out what IRA option(s) are best for your financial situation, speak with a Smart Financial Credit Union representative.
Rates for Individual Retirement Accounts
| Individual Retirement Accounts (IRA) | ||||
| Effective Date: Friday, April 26th, 2024 | ||||
| Account | Minimum to Open | Minimum Balance | Interest Rate | APY |
| IRA (Savings) | $100 or $50 w/ payroll deduction-Direct Deposit | $0-2,499.99 | 0.599 | 0.60 |
| $2,500.00-9,999.99 | 0.798 | 0.80 | ||
| $10,000.00-24,999.99 | 1.095 | 1.10 | ||
| $25,000.00-49,999.99 | 1.343 | 1.35 | ||
| $50,000.00-99,999.99 | 1.590 | 1.60 | ||
| $100,000.00+ | 1.836 | 1.85 | ||
| Individual Retirement Accounts/Certificates of Deposit | |||
| Effective Date: Friday, April 26th, 2024 | |||
| Term | Interest Rate APR* | APY | Minimum Opening Balance |
| 12-month IRA | 4.025 | 4.10 | $1,000 |
| 24-month IRA | 3.542 | 3.60 | |
| 36-month IRA | 3.057 | 3.10 | |
| 48-month IRA | 3.057 | 3.10 | |
| 60-month IRA Special | 3.057 | 3.10 | |
To open an account, please visit a branch.
Account Benefits
Money Market from Smart Financial
A Money Market account lets you earn a better-than-average interest rate, as long as you maintain a balance of $2,500. Withdraw money regularly, just like a normal savings account.