Some financial goals require longer-term vision. That’s where an IRA account from SkyOne can help sharpen your focus so you can accomplish your long-range plans.
We offer three options ways to help you plan:
Traditional IRAs offer potential tax deductibility. Earnings from your Traditional IRA remain tax-deferred until distributed.
There are no income limits for contributions on a Traditional IRA; however, depending on your income and tax filing status, your contributions may not be tax deductible.
The funds you contribute to this type of IRA are considered pre-tax dollars and you will be taxed upon withdrawal of the funds.
The Roth IRA is an Individual Retirement Account that offers potentially tax-free earnings.
It's structured so the assets in the Roth IRA become after-tax assets, which may create tax-free retirement income for you and maybe for your beneficiaries. All transactions within the IRA have no tax impact, and withdrawals are usually tax-free.
Education costs can be very expensive, and saving for these expenses at a tax advantage just makes sense. The sooner you begin with a Coverdell Education IRA, the sooner you – and your child or grandchild – will be able to reap the reward of early investing.
This type of IRA offer the potential of tax-free earnings when the funds are used for educational purposes.
Note: Please consult a qualified professional for tax or legal advice.
To open an IRA certificate, contact us at 800.421.7111 or visit the IRA Service Center.
Rates Effective 07-27-2017
Certificates and IRA Rates
|Amount||6 Months†||1 Year†||2 Years^||3 Years^||4 Years^||5 Years^||Alert Me|
|$500 - $4,999||0.55% APY*||0.85% APY*||0.91% APY*||1.19% APY*||1.39% APY*||1.75% APY*|
|$5,000 - $9,999||0.55% APY*||0.85% APY*||0.96% APY*||1.24% APY*||1.44% APY*||1.80% APY*|
|$10,000 - $24,999||0.55% APY*||0.90% APY*||1.06% APY*||1.29% APY*||1.49% APY*||1.85% APY*|
|$25,000 - $49,999||0.55% APY*||0.90% APY*||1.11% APY*||1.34% APY*||1.54% APY*||1.90% APY*|
|$50,000 - $99,999||0.60% APY*||0.95% APY*||1.16% APY*||1.39% APY*||1.59% APY*||1.95% APY*|
|$100,000 +||0.65% APY*||1.00% APY*||1.21% APY*||1.44% APY*||1.64% APY*||2.00% APY*|
|*APY = Annual Percentage Yield - APY on certificates assumes quarterly compounding. APY is slightly less for terms less than 12 months. Dividend rate will remain the same until end of your term (even if balance exceeds the maximum amount in your current tier level).
†You can "add on" to the principal of your certificate. This Add-On feature is available for certificates with terms from 6 to 23 months. In the event of a withdrawal before your certificate term matures: certificates with terms from six months to one year are subject to a penalty equal to a loss of 90 days dividends; certificate terms greater than one year are subject to a penalty equal to a loss of 180 days dividends; dividends will be paid prior to imposing the penalty. Terms for certificates will be limited to 60 months.
^If our certificate rates go up any time during the original term of your certificate, you may request a one-time bump-up rate for the remainder of the original term by notifying SkyOne. The bump-up rate only applies to certificates with terms of 24 months or longer.
Accounts are federally insured, per member, up to $250,000 by the National Credit Union Administration. In addition, all IRA accounts are SEPARATELY insured up to $250,000 per member.
You may elect to have non-IRA certificate dividends posted monthly and immediately transferred to a Savings or Checking account of your choice. If you so elect, your APY will never exceed the Dividend Rate due to monthly posting and transferring.