Individual Retirement Accounts
At CECU, we realize that financial security for the future is something everyone must consider. Whether you are just starting to consider retirement savings, you’re unsure of how to effectively safe for college, or you are getting ready to retire and need a smart way to manage your qualifying benefit income, we offer an Individual Retirement Account that fits your needs!

Traditional IRA:
This account allows you to defer taxes on a portion of your income while enjoying superior interest rates. Earnings accrued on this account are not taxed until you begin to make withdrawals. Investors aged 59 ½ and up can access their funds without penalty. Investors must begin receiving periodic payments by age 70 ½.

Roth IRA:
With this option, your contributions from income will not be tax-free, but you will still enjoy great interest rates. Plus, you can access your contributions tax- and penalty-free any time. Earnings may be withdrawn if the member meets specific requirements.

Education Savings Account:
This account is the perfect way to save money for educational expenses. Investors will earn dividends on their contribution, and withdrawals may be made penalty-free for qualifying educational expenses.

Each of these IRA options may be managed through an IRA Savings Account, IRA Certificates of Deposit. Determining which investment method is right for you depends upon the initial deposit available and the desired interest rate for your investment. Each method is outlined below. For specific rates on each option, click here.

IRA Savings Account:
With no minimum balance and contribution options such as payroll deduction, this account is convenient and flexible! Dividends are applied quarterly at the same rate as a 12-month Certificate.
Deposits and withdrawals for this account will comply with federal regulations.

IRA Certificates of Deposit:
You choose the term that makes sense for you, and CECU will pay a rate of return that rivals any other financial institution. With terms ranging from three to 48 months, your options are wide open! All it takes is an initial $500 deposit, and you’re on your way to smart savings and easy earning!

Choosing an IRA and a contribution option that works for you can be difficult. That’s why CECU representatives are always available to help you sort through the details and determine the perfect savings plan to meet your goals. Contact the credit union at (573) 522-4000 or toll free at (888) 897-2323 to learn more or to open your IRA today!


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