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Individual Retirement Accounts (IRAs)

TFCU offers a broad selection of Individual Retirement Accounts (IRAs) to help you plan for your future journey. IRA accounts are great tax-favored ways to save for retirement.

Choose from Traditional IRA, Roth IRA, or Coverdell Education Savings Account.

With a Roth IRA, earnings grow tax free and are also tax free when you make qualified withdrawals. With a Traditional IRA, your earnings grow tax deferred, so you won’t owe income taxes until you make withdrawals. And if you’re eligible, your contributions are tax deductible. Coverdell Education Savings Account (formerly Education IRAs) allows you to plan now for future college expenses and have your earnings grow tax free. Save up to $2,000 per year, per child.

IRA Retirement Central

Transportation FCU offers you quite possibly the easiest way to connect with a full array of IRA and retirement planning solutions. You’ll gain 24/7 access to education, online planning tools and calculators, investment options for IRAs and ESAs, and forms that you can easily and accurately complete from the safety and privacy of your home. You’ll find it all in the Retirement Central.


IRA Share Savings Account and IRA Share Certificates You are protected
 

IRA Share Savings Account

TFCU offers a low-cost flexible share saving plan with no term deposit requirements.  

• A $25 minimum deposit opens an IRA Share Account
• Your money is safe and secure because it is federally insured separately from other deposits
• Rates are declared monthly by the Board of Directors
• Fees may reduce earnings

 

IRA Share Certificates

TFCU offers these low-cost, higher-earning, term deposit accounts.

• A $1,000 minimum deposit opens a Traditional, Roth or Coverdell IRA Share Certificate
• Terms vary from 12 to 60 months
• Transfers and rollovers to TFCU are easily completed
• Your money is safe and secure because it is federally insured separately from other deposits
• Rates are set weekly and vary
• Fees may reduce earnings

 

Excess Share Insurance – Additional Coverage Provided by TFCU

An additional $250,000 of coverage is provided by Excess Share Insurance (ESI), a private corporation. Traditional and Roth IRAs are separately insured up to $250,000 by NCUA and up to an additional $250,000 through ESI, all at no cost to you.

TFCU members receive the highest level of combined federal/private share savings insurance available anywhere.

  NCUSIF Excess Share Insurance (ESI) Total Coverage
Non-Retirement Accounts $250,000 $250,000 $500,000
IRA Accounts $250,000 $250,000 $500,000
Total Possible Coverage $500,000 $500,000 $1,000,000

 

 

Share Savings Rates (Last Modified: Apr 14, 2014)

Share TypeMinimum DepositDividend RateAnnual Percentage Yield (APY)
Regular Share and Club Accounts$5.00.10%.10%
Life Savings Accounts$5.00.05%.05%
Money Market Accounts$2,500 - $9,999.15%.15%
$10,000 - $19,999.20%.20%
$20,000 - $49,999.25%.25%
$50,000 and over.35%.35%
Convenience & On the Move
Checking Accounts
No minimum required.05%.05%
Traditional and Roth IRA, Coverdell Education Savings Account$25.00.20%.20%

Share savings rates are variable and are declared monthly by the Board of Directors. Rates shown are the most recent as of the
above effective date. Dividends are paid and compounded monthly, and are calculated using the daily balance method, which
applies a daily periodic rate to the balance in the account each day. Please refer to our Truth in Savings disclosure for further details.
Fees could reduce earnings.

Traditional, Coverdell Education Savings & Roth IRA Certificate Rates (Last Modified: Apr 14, 2014)

TermMinimum DepositDividend RateAnnual Percentage Yield (APY)
1-Year Share Certificate$1,000.75%.75%
2-Year Share Certificate$1,0001.00%1.00%
3-Year Share Certificate$1,0001.25%1.26%
4-Year Share Certificate$1,0001.60%1.61%
5-Year Share Certificate$1,0001.80%1.81%

Rates are subject to change without notice. Dividends on all Share Certificates and Jumbo Share Certificates, including IRA
Share Certificates, are calculated using the daily balance method, which applies a daily periodic rate to the balance in the account
each day. Dividends on Six month Affordable and Money Market certificates are paid at maturity. Dividends on all other types of
certificate accounts are paid and compounded quarterly, with final payment at maturity. Penalty will be imposed for early withdrawals.
Fees could reduce earnings. See certificate disclosure for details.

Jumbo Traditional & Roth IRA Certificate Rates (Last Modified: Apr 14, 2014)

TermMinimum DepositDividend RateAnnual Percentage Yield (APY)
1-Year Jumbo Share Certificate$100,000.85%.85%
2-Year Jumbo Share Certificate$100,0001.10%1.10%
3-Year Jumbo Share Certificate$100,0001.35%1.36%
4-Year Jumbo Share Certificate$100,0001.70%1.71%
5-Year Jumbo Share Certificate$100,0001.90%1.91%

Rates are subject to change without notice. Dividends on all Share Certificates and Jumbo Share Certificates, including IRA
Share Certificates, are calculated using the daily balance method, which applies a daily periodic rate to the balance in the account
each day. Dividends on Six month Affordable and Money Market certificates are paid at maturity. Dividends on all other types of
certificate accounts are paid and compounded quarterly, with final payment at maturity. Penalty will be imposed for early withdrawals.
Fees could reduce earnings. See certificate disclosure for details.

Jumbo Rates do not apply to Coverdell Education Savings Accounts.