IRAs and Term Certificates
Invest in your future—take your savings up a notch or two.
Saving isn’t just about retirement. It’s about preparing for life’s opportunities and unexpected expenses while building a stronger financial future.
From Share Certificates that offer guaranteed returns to IRA options designed for long-term savings, Statewide has solutions to help you reach your goals with confidence.
Which Option Is Right for You?
| If You Want To… | Consider |
|---|---|
| Save for a vacation, vehicle, or future purchase | Share Certificate |
| Save specifically for retirement | Traditional IRA |
| Enjoy tax-free qualified withdrawals in retirement | Roth IRA |
| Combine retirement savings with fixed certificate earnings | IRA Share Certificate |
Learn More About Each Account Type
Share Certificates, also known as CDs, are perfect for saving money you don’t need immediate access to. Do you have a large balance in your savings account that you won’t need to touch for a while? The longer the term on the CD, the higher the dividends you can earn.
- $1,000 Minimum opening deposit
- Fixed rates for the term of the certificate.
- Terms vary from 6 to 60 months.
- Dividends can be compounded to the certificate or deposited to a share account.
- There is a penalty for early withdrawals.
Why Consider a Share Certificate?
If you have funds you don’t expect to use right away, a Share Certificate may offer higher dividend earnings than a traditional savings account while keeping your money secure.
Ready to open a Statewide Share Certificate? Want more information?
Call Us 1.800.682.6426
Already a member?
Log-in to Online Banking or Mobile Banking to open a certificate instantly! Click “Create Share” on your dashboard to get started.
Or stop by one of our branches
By investing in our IRA CDs, you get flexibility with varying terms plus potential tax benefits as you save for retirement.
IRA CD
- $1,000 Minimum opening deposit.
- Flexible terms vary from 6 to 36 months.
Roth IRA CD
- $1,000 Minimum opening deposit.
- Flexible terms from 6 to 60 months.
- 10% federal penalty for withdrawals made before age 59 ½.
- 5 years must elapse from the tax year of your first roth contribution before the earnings can be tax free
Ready to open an IRA Share Certificate? Want more information?
Call Us 1.800.682.6426
Or stop by one of our branches
Statewide’s IRA Share Account offers compounded interest at a competitive rate, plus potential upfront tax benefits. This makes for a safe and secure option for retirement savings.*
- $0 Minimum opening deposit
- No fees
- Contributions may be tax-deductible
- Dividends are compounded and paid monthly.
- There is a penalty for making a withdrawal before the age of 59.5 years.
- Required minimum distributions must be taken after the age of 70.5 years.
Ready to open a Roth Share Account? Want more information?
Call Us 1.800.682.6426
Or stop by one of our branches
With a Roth IRA, contributions are not tax-deductible, but they can be withdrawn tax-free, including earnings.*
- $0 Minimum opening deposit
- $5 Minimum balance
- Contributions are never tax-deductible and cannot exceed earnings.
- Deposits are limited by IRS annual limits. Members may be eligible to contribute up to $5,500 per year, or members age 50 and over may contribute up to $6,500 per year. (2017 contribution limits).
- No set-up fee and no annual fee.
- Withdrawals are 100% tax-free
- Withdrawals can begin at age 59 ½ and are 100% tax-free
- Variable interest rate, with a tiered rate earned on higher balances.
- Dividends compounded daily and credited monthly.
Ready to open a Roth IRA? Want more information?
Call Us 1.800.682.6426
Or stop by one of our branches
Whatever you’re saving for, we’re here to help.
Disclosures
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*Members are recommended to consult with a tax preparer or advisor regarding IRA eligibility.