Certificates of Deposit/IRAs
Take advantage of higher dividends and short-term commitment with a Certificate of Deposit (Certificate) or work on reaching your retirement goals with an Individual Retirement Account (IRA). IMCU offers a range of terms available to meet individual needs.
- Terms available: 6-mo, 1, 2, 3, 4, 5 & 7-year terms
- Minimum Balance: $1,000
- Penalty for early withdrawal
- Dividends are compounded monthly & credited on the last day every month
Individual Retirement Accounts (IRAs)
Roth IRAs expand after-tax investment opportunities and may allow you to invest up to $4,000 per year ($8,000 per married couple); and offers members tax-free withdrawals at retirement or for certain other qualified uses.
A Traditional IRA is a popular investment tool that continues to grow due to its simplicity and benefits. It also offers the opportunity for pre-tax investments and tax-deferred growth for retirement and other financial needs.
Coverdell Education Savings Accounts
Coverdell Education Savings Accounts (Formerly Education IRAs) provide a tax-advantage not offered by other types of savings accounts. With increased contribution limits and expanded “qualified” (tax-free) expenses, individuals have a greater opportunity to enjoy the benefits offered. Earnings are tax-deferred and may be tax-free if used for educational purposes.
Visit any IMCU branch to open your Certificate or IRA!
Indiana Members Credit Union is not licensed to provide tax advice. Please refer to your tax advisor for details.