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IRAs

Our flexible IRA accounts can be catered to help you save for retirement while meeting your financial needs today. Even if you already have a 401(k), an IRA may be a valuable way to supplement an employer-sponsored retirement plan. SCE FCU IRAs are held as IRA Certificates with varying terms from 12 to 60 months, so you can create a savings strategy that maximizes your earnings.

  • Terms from 12 to 60 months
  • $1,000 minimum opening balance
  • Dividends compound monthly
  • No fees to maintain your account
  • Even if you withdraw your money early, the principal is protected
  • Federally insured up to at least $250,000

Traditional IRAs

IRA contributions may be tax deductible, depending on your circumstances. Many people pay fewer taxes on these earnings because they move to a lower tax bracket after retirement.

Roth IRAs

This IRA has the same contribution limits as a traditional IRA, but you don’t need to be under 70½ years old to contribute. The contributions are not tax-deductible during the current tax year, but the earnings on your contributions are tax-deferred and may be tax-free if you wait to withdraw funds until you’ve had your Roth IRA for at least five years and you reach the age of 59½, become disabled, or qualify as a first-time homebuyer.

Coverdell Educational Savings Accounts (ESA)

Formerly called an Education IRA, the Coverdell ESA helps pay for a child’s education. When used to pay for qualified education expenses, the earnings on your contributions are tax-free.

IRA Savings

With no minimum balance requirement, this account allows you to start saving for retirement now and still have access to the funds.

 

Rate Table: Certificates & IRAs

Certificate & IRA Rates
  Dividend7 APY8 Compounding Minimum Balance Minimum Deposit
91 Days11 1.24% 1.25% At maturity $1,000 $0
6 Months11 1.39% 1.40% Monthly $1,000 $0
12 Months 1.64% 1.65% Monthly $1,000 $0
18 Months 1.74% 1.75% Monthly $1,000 $0
24 Months 1.88% 1.90% Monthly $1,000 $0
36 Months 2.03% 2.05% Monthly $1,000 $0
48 Months 2.23% 2.25% Monthly $1,000 $0
60 Months 2.47% 2.50% Monthly $1,000 $0

Fees & Charges

Printable Rate Sheet

 

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