IAACU 808 IAA DRIVE
PO BOX 2901
BLOOMINGTON, IL
61702-2901
800.676.2541
Savings Accounts > IRA Understanding Individual Retirement Accounts (IRAs)
In 1997, the Taxpayer Relief Act created many new choices for retirement and education savings. It also made traditional IRAs more attactive by enabling more people to deduct contributions and allowing certain new penalty-free withdrawals.
A traditional IRA may be fully deductible depending on your filing status and the dividends earned would be tax deferred. With the Roth IRA your contributions are non-deductible but in most cases your earnings are tax free. The Coverdell Education IRA was designed to help families save for post-high school educational expense.
The Tax Relief Act of 2001 further increased the limits of contribution for all three types of IRAs.
Our IRA information was last updated as of 2/24/04.
Other Investment Rates
Rates last updated 8/27/2008 8:04:15 AM. They are subject to change without notice.
Account Type
Annual Percentage Rate
Annual Percentage Yield
IRA/HSA Money Market (3rd Quarter 2008)
2.25%
2.27%
Share Savings (06-30-08)
.75%
.75%
Christmas/Vacation Clubs (06-30-08)
.75%
.75%
Member accounts are insured to $100,000 by the National Credit Union Share Insurance Fund. An additional $250,000 is insured by Excess Share Insurance, a private insurance company.
Certificates
Rates last updated 8/27/2008 8:01:51 AM. They are subject to change without notice.
Term
Minimum Balance
Annual Percentage Rate
Annual Percentage Yield
3
$1,000*
2.62%
2.65%
6
$1,000*
2.96%
3.00%
12
$1,000*
3.20%
3.25%
18
$1,000*
3.44%
3.50%
24
$1,000*
3.68%
3.75%
30
$1,000*
3.68%
3.75%
36
$1,000*
3.73%
3.80%
45
$1,000*
3.73%
3.80%
48
$1,000*
3.92%
4.00%
60
$1,000*
4.11%
4.20%
Youth **
$500
Jumbo***
$100,000
*Roth & Traditional IRA Share Certificates minimum $2,000.
**Youth savings certificates available to Kirby Club members only. Education IRA certificates (minimum $500).***Jumbo rate quoted upon request, depending upon maturity of the certificate.
ESI
EHL
