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Savings and investments

Saving accounts overview Certificates Individual retirement accounts




Individual retirement accounts

Set aside funds in an Individual Retirement Account (IRA) to supplement your pension or Social Security benefits. With an IRA, you can save money now, take advantage of yearly tax deductions, plus defer taxes on the interest your IRA accumulates. Most members are eligible, although there are some restrictions.

With an IRA, you will earn a competitive dividend rate on your savings. You can also take advantage of the convenience of Payroll Deduction or automatic transfers, which make it easy to transfer funds to your IRA automatically. Contact your tax advisor to see which IRA will work best for you. Your credit union has a full range of IRA options to choose from:

Traditional IRA

You do not have to pay taxes on this type of IRA For A Better Future… Save More, Starting Today! now, when your income is high. At retirement, you are able to take out your funds or roll them over into another option. Taxes paid then are usually less, since your income could be lower.

Roth IRA

If you will need your money sooner than retirement, consider the Roth IRA. Your savings will add up quickly with the higher interest paid on a Roth IRA. While you will have to pay taxes on the funds now, you will be saved those taxes when you use the money, and you do not incur any penalties for withdrawing money after 5 years.

Variable Rate IRA

With a Variable Rate IRA, there is no set maturity date. Dividends are compounded monthly, and you have the option of switching to a fixed dividend rate at any time. Make deposits as you wish, up to IRS contribution limits

Coverdell Education Savings Account (ESA)

Parents, grandparents, relatives, friends and even minors (with earned income) can set up an ESA for any designated beneficiary under age 18. You can make nondeductible contributions of up to $2,000 per child each tax year. Interest earned and withdrawals are tax-free as long as the funds are used for financing elementary, secondary and post-secondary education expenses. Contributions to an ESA do not count toward IRA contributions, so you can save for a child’s education and maximize your own IRA every tax year.

Start earning more today

To learn more or to open a high-yield Savings or Investment Account today, contact us at (864) 281-7640, toll-free (800) 845-1035, or stop by the credit union.

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Rates @ a Glance

Individual retirement accounts

3 Months

MIN:($100)		 1.05% APY

6 Months

MIN:($100)		 1.25% APY

12 Months

MIN:($100)		 1.65% APY

24 Months

MIN:($100)		 1.85% APY

36 Months

MIN:($100)		 1.95% APY

48 Months

MIN:($100)		 2.05% APY

60 Months

MIN:($100)		 2.15% APY

Variable IRA

MIN:($100)		 1.05%
Additional Interest Rates