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IRAOptions
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Prepare for your future and start your retirement plan now. Montana First offers a number of IRAs to help you reach your retirement goals. |
|
Account Features |
IRA Shares |
IRA Certificates |
|---|---|---|
| Description | Our savings account developed for members who want to make regular deposits to their IRA. | Our savings option for individuals who will not need access to their funds for a set period of time and want to earn higher dividends than regular share accounts. |
| Minimum Opening Balance | $5.00 | $500 |
| Minimum Balance Required to Earn Dividends | None | $500 |
| Fees | None | Early withdrawal penalty |
| Age Requirement | Must be 59 1/2 to withdrawal without penalty | Must be 59 1/2 to withdrawal without penalty |
| Transaction Limitations | None | No deposits allowed once CD is opened |
Types of IRAs
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Traditional IRA
Offers both tax-deferred earnings and growth investments for retirement. Contributions may be tax deductable, and withdrawals are taxed. -
Roth IRA
A Roth IRA is contributed to after earnings are taxed and is also a growth investment for retirement. While contributions are not tax deductible, withdrawals may be tax free. -
SEP (Simplified Employee Pension) IRA
A SEP IRA is primarily for small businesses and self-employed individuals. It enables employers to make contributions for their eligible employees and allows self-employed people to make contributions to an IRA. -
Coverdell Education Savings Account (ESA)
An ESA account is a growth investment for qualified higher education expenses. Ideal for any parents or guardians wishing to start saving for their children's education. Earnings are tax-deferred and withdrawals may be tax-free.
Share Certificate IRA Rates (Last Modified: Mar 22, 2013)
| Term | Rate Tiers | Dividend Rate | APY |
|---|---|---|---|
| 12 Month IRA | Min. $500.00 | 0.20% | 0.20% |
| $25,000.00 | 0.20% | 0.20% | |
| $100,000.00 | 0.20% | 0.20% | |
| 24 Month IRA | Min. $500.00 | 0.25% | 0.25% |
| $25,000.00 | 0.25% | 0.25% | |
| $100,000.00 | 0.25% | 0.25% | |
| 36 Month IRA | Min. $500.00 | 0.45% | 0.45% |
| $25,000.00 | 0.45% | 0.45% | |
| $100,000.00 | 0.45% | 0.45% | |
| 48 Month IRA | Min. $500.00 | 0.50% | 0.50% |
| $25,000.00 | 0.50% | 0.50% | |
| $100,000.00 | 0.50% | 0.50% | |
| 60 Month IRA | Min. $500.00 | 0.55% | 0.55% |
| $25,000.00 | 0.55% | 0.55% | |
| $100,000.00 | 0.55% | 0.55% | |
| IRA Shares | All Balance Ranges | 0.05% | 0.05% |
| Special IRA Certificate | Min $500.00 | 0.80%* | 0.80%* |
APY= Annual Percentage Yield.
The IRA rates shown are for Traditional, Roth, and Coverdell IRA's. Early withdrawal may be subject to penalty and may affect earnings on certificates.
*Rate shown with a 0.25% bump for PF
Questions?
Your savings Federally Insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.
Montana First is a division
of Horizon Credit Union