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Green Mount Credit Union

Green Mount Credit Union

Old School Lending. 21st Century Technology.

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IRA

We offer Regular, Roth and Education IRA Accounts with no annual fee. Dividends are compounded and paid quarterly, using an average daily balance method.

Individual Retirement Accounts (IRAs) are a tax advantaged way to plan for your retirement. Start saving for your long term goals today! Fund your IRA as a savings account or a certificate of deposit.

A Traditional IRA is a retirement account that offers the flexibility of making tax deductible contributions. Deposits to the account are tax deductible in the year the deposit is made.

  • Dividends paid monthly
  • Earnings grow tax deferred
  • No minimum balance on IRA Savings Accounts; minimums do apply on IRA Certificates of Deposit
  • Penalties may apply for early withdrawal

A Roth IRA is a retirement account that allows your contributions to be withdrawn tax free, however, there is no tax deduction in the year you make the contribution deposit.

  • Dividends paid monthly
  • No minimum balance on IRA Savings Accounts; minimums do apply on IRA Certificates of Deposit
  • Qualified withdrawals are tax free
  • No mandatory withdrawals
  • Qualified education expenses are penalty free

A Coverdell Education Savings Account (ESA) is an investment vehicle to help you save for a child’s education.

  • Dividends paid monthly
  • No minimum balance on Savings Accounts; minimums do apply on Certificates of Deposit
  • Contributions and subsequent earnings are tax-free when withdrawn to pay for qualified education expenses

IRA Certificate Rates

IRA CERTIFICATE (Effective 6/30/2020)RATEAPY
24 months0.80%0.803%
36 months0.90%0.904%
60 months1.00%1.005%
* APY is Annual Percentage Yield

Share IRA Rates

BalanceRateAPY
$ 500 to 9,999.99 0.30%.350%
$10,000 to 49,999.990.40%.451%
$50,000 to 99,999.990.45%0.501%
$100,000 and over0.45%0.501%

Rates are subject to change after account opening.
Early withdrawal penalties may apply.

 

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NCUA INSURED: Your savings is federally insured to at least $250,000 and backed by full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.

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