Individual Retirement Accounts (IRAs) | Accentra CU | Austin, Albert Lea, Kasson (2024)

It's never to soon to get ahead on saving for retirement.

Save money, maximize growth, and grow your retirement funds with an IRA.

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Benefits You’ll Love

Save for retirement and save on taxes¹
Enjoy protection by the NCUA
Deposit up to $7,000 each year
No monthly maintenance fees

Secure Your Future with an Accentra IRA Savings

Plan for a comfortable retirement with an IRA Savings account from Accentra Credit Union. Our IRA options provide you with a tax-advantaged way to grow your savings and secure your financial future.

Why Choose an Accentra IRA Savings Account?

Tax-Advantaged Savings: Benefit from tax advantages with both Traditional and Roth IRA options, helping you maximize your retirement savings¹.
Competitive Interest Rates: Enjoy competitive interest rates that are higher than standard savings accounts, enhancing your growth potential.
Quarterly Dividends: Dividends are compounded and credited quarterly, providing regular growth on your savings.
No Fees: Enjoy a fee-free experience with no setup fees, monthly maintenance fees, or annual maintenance fees.
Flexible Contribution Limits: Contribute up to the annual limit ($7,000 as of 2024) to your IRA, with an additional $1,000 “catch-up” contribution allowed for those aged 50 and over.
Low Minimum Deposit: Start saving with a minimum deposit of just $20.
Federally Insured: Your savings are protected with federal insurance by the NCUA, including an additional $250,000 above the standard insurance for added security.

How It Works

Our IRA Savings accounts are designed to offer you flexibility and security as you plan for retirement. With competitive rates and no maintenance fees, you can focus on growing your savings and preparing for the future.

Ready to Start Saving?

Open an IRA Savings account with Accentra Credit Union today and take the first step toward a secure retirement. Contact us to learn more about our IRA options and start your journey to financial security.

There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA

No income limits to open
No minimum contribution requirement
Contributions are tax deductible on state and federal income tax^**
Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
Withdrawals can begin at age 59½
Early withdrawals subject to penalty^***
Mandatory withdrawals at age 72

Roth IRA

Income limits to be eligible to open Roth IRA^*
Contributions are NOT tax deductible
Earnings are 100% tax free at withdrawal^**
Principal contributions can be withdrawn without penalty^**
Withdrawals on interest can begin at age 59½
Early withdrawals on interest subject to penalty^***
No mandatory distribution age
No age limit on making contributions as long as you have earned income

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Questions?

¹Consult a tax advisor.
²Subject to some minimal conditions. Consult a tax advisor.
³Certain exceptions apply, such as healthcare, purchasing first home, etc.
*Qualified expenses include tuition and fees, books, supplies, board, etc.
**Consult your tax advisor to determine your contribution limit.
***Those earnings are subject to income tax and a 10% penalty.

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Buy vs. Lease CalculatorDisclaimer

This calculator compares the costs of buying or leasing a vehicle. There are three sections to complete, and you can adjust and experiment with different scenarios.

Net cost of buying $0
Net cost of leasing $0

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CD CalculatorDisclaimer

A fixed-rate, fixed-term CD can earn higher returns than a standard savings account. Use this calculator to get an estimate of your earnings. Move the sliders or type in numbers to get started.

Total value at maturity $0
Total dividends earned $0
Annual Percentage Yield (APY)0.000%

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Savings Goal CalculatorDisclaimer

Whether it's a down payment, college, a dream vacation...a savings plan can help you reach your goal. Use the sliders to experiment based on length of time and amount per month.

Monthly deposit needed to reach goal $0

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Balloon Loans

Term Rates	Rate	APR* _{as low as}
5 Year Balloon	5.125%	5.392%
7 Year Balloon	5.250%	5.518%
10 Year Balloon	5.500%	5.883%

*APR = Annual Percentage Rate. On approved credit. Not all will qualify for the lowest rate. Balloon Loan repayment terms and an amortization schedule.

Boats, RVs, Campers

Age of Vehicle	0-2 years	3-5 years	6-10 years	10+ years
Term Rates	APR* _{as low as}	APR* _{as low as}	APR* _{as low as}	APR* _{as low as}
12 Months	7.62%	8.87%	9.37%	9.87%
24 Months	7.44%	8.69%	9.19%	9.69%
36 Months	7.38%	8.63%	9.13%	9.63%
48 Months	7.34%	8.59%	9.10%	9.60%
60 Months	7.47%	8.73%	9.23%	9.73%
72 Months	7.56%	8.81%	9.31%	9.81%
84 Months	8.05%	9.30%	9.80%	10.30%
120 Months	8.24%	9.49%	9.99%	10.49%
144 Months	8.43%	9.68%	10.18%	10.68%
180 Months	8.52%	9.78%	10.28%	N/A

*APR = Annual Percentage Rate. Actual rate will be based on individual’s credit rating, amount financed, and other factors. On approved credit. Not all will qualify for the lowest rate. Rates are subject to change. APR based on loan amount of $25,000 for term and rate chosen. Other dollar amounts available. Payment example: A 60 month $25,000 fixed rate secured new boat/camper/RV loan at 7.47% APR* has an approximate monthly payment of $500.64.

Business Checking and Money Market Savings Interest Rates

Dividend Rate	APY*	Interest Compounded	Balance
0.05%	0.05%	Monthly	$0 - $9,999
0.10%	0.10%	Monthly	$10,000 - $24,999
0.15%	0.15%	Monthly	$25,000 - $49,999
0.20%	0.20%	Monthly	$50,000 - $99,999
0.35%	0.35%	Monthly	$100,000 - $249,999
0.50%	0.50%	Monthly	$250,000 - Greater

*APY = Annual Percentage Yield.

Cars, Trucks, and Vans

Age of Vehicle	0-2 years	3-5 years	6-10 years	10+ years
Term Rates	APR* _{as low as}	APR* _{as low as}	APR* _{as low as}	APR* _{as low as}
12 Months	6.67%	7.92%	8.42%	8.92%
24 Months	6.49%	7.74%	8.24%	8.74%
36 Months	6.42%	7.68%	8.18%	8.68%
48 Months	6.49%	7.74%	8.24%	8.74%
60 Months	6.67%	7.93%	8.43%	8.93%
72 Months	6.71%	7.96%	8.46%	8.96%

* APR = Annual Percentage Rate. Actual rate will be based on individual’s credit rating, amount financed, and other factors. On approved credit. Not all will qualify for the lowest rate. Rates are subject to change. APR based on loan amount of $25,000 for term and rate chosen. Other dollar amounts available. Payment Example: A 60 month $25,000 fixed rate secured new auto loan at 6.67% APR* has an approximate monthly payment of $491.19.

Certificate Accounts

Term	Rate	APY*	Interest Compounded	Minimum Opening Deposit
3 Months	0.20%	0.20%	At Maturity	$500.00
6 Months	0.25%	0.25%	At Maturity	$500.00
6 Months Special***	5.15%	5.21%	At Maturity	$500.00
18 Months**	4.11%	4.18%	Monthly	$10.00
24 Months	0.40%	0.40%	Quarterly	$500.00
36 Months	0.50%	0.50%	Quarterly	$500.00
48 Months	0.60%	0.60%	Quarterly	$500.00
60 Months	0.70%	0.70%	Quarterly	$500.00

*APY = Annual Percentage Yield
**Applies to 18 month term only: the interest rate and Annual Percentage Yield (APY) are variable and is based on an Index. 18 month certificate is not available to Business Accounts.
*** Applies to 6 month special certificate only: At maturity, the 6-month special certificate will automatically renew at the standard 6-month certificate's rate and term.

Christmas Club

Dividend Rate	APY*	Interest Compounded	Minimum Opening Deposit
0.10%	0.10%	Quarterly	$20.00

*APY = Annual Percentage Yield. Dividends are calculated on an average daily balance, and are compounded and credited quarterly. Dividend rates and APY's may change monthly after the account is opened, based on market conditions. Withdrawals and service charges or fees may reduce earnings.

Construction Loans

Term Rates	Rate	APR* _{as low as}
Up to 1 Year	5.125%	5.392%

*APR = Annual Percentage Rate. On approved credit. Not all will qualify for the lowest rate. During the construction phase, payments are interest only based on the loan amount advanced.

Home Equity - Line of Credit

Term Rates	APR* _{as low as}
Introductory Rate for 6 months	3.900%
Rate after 6 months	8.500%

*APR = Annual Percentage Rate. On approved credit. Not all will qualify for the lowest rate. Payments: 1.0% of principal balance owed on the monthly billing date (minimum payment $50) after each new advance. Loan term is 20 years - 10 year draw period and 10 repayment period. Rate subject to change semi-annually. Maximum rate 18%. A 20 year $30,000 variable rate home equity loan at 8.50% APR has an approximate monthly payment of $300. Other terms and amounts are available.

Home Equity Loans

Term Rates	Rate	APR* _{as low as}
5 Year Fixed Rate, Up to 80% of Value	5.250%	5.538%
10 Year Fixed Rate, Up to 80% of Value	6.250%	6.405%

*APR = Annual Percentage Rate. On approved credit. Not all will qualify for the lowest rate. Payment example: A 5 year $15,000 fixed rate home equity loan at 5.538% APR has an approximate monthly payment of $284.79. Other terms and amounts are available.

Home Improvement Loans

Loan Amount	APR* _{as low as}
Up to $10,000	6.25%

*APR = Annual Percentage Rate. Actual rate will be based on individual’s credit rating, amount financed, and other factors. On approved credit. Not all will qualify for the lowest rate. Rates are subject to change. APR = Annual Percentage Rate is based on a $100,000 mortgage with a 1% origination fee and a 20% down payment.

Home Loans

Term Rates	Rate	APR* _{as low as}
10 Year Fixed	5.500%	5.883%
15 Year Fixed	6.000%	6.365%
20 Year Fixed	5.750%	6.038%
30 Year Fixed	6.490%	6.725%

*APR = Annual Percentage Rate. On approved credit. Not all will qualify for the lowest rate. Fixed rate repayment terms and an amortization schedule.

IRA Savings

Dividend Rate	APY*	Interest Compounded	Minimum Opening Deposit
0.10%	0.10%	Quarterly	$20.00

Kasasa Cash*

Balance	Minimum Opening Deposit	Rate	APY
0 - $15,000	$x	0.00%	0.00%
$15,000+	$x	0.00%	0.00%
All balances if qualifications not met	$x	0.00%	0.00%

Qualifications

Kasasa Saver*

Balance	Minimum Opening Deposit	Rate	APY
0 - $15,000	$x	0.00%	0.00%
$15,000+	$x	0.00%	0.00%
All balances if qualifications not met	$x	0.00%	0.00%

Qualifications

Money Market Savings

Dividend Rate	APY*	Interest Compounded	Balance
0.05%	0.05%	Monthly	$0 - 2,499
0.05%	0.05%	Monthly	$2,500 - 9,999
0.10%	0.10%	Monthly	$10,000 - 24,999
0.15%	0.15%	Monthly	$25,000 - 49,999
0.20%	0.20%	Monthly	$50,000 - 99,999
0.35%	0.35%	Monthly	$100,000 - Greater

Motorcycles, ATVs, Snowmobiles, and Jetskis

Age of Vehicle	0-2 years	3-4 years	5-7 years	8+ years
Term Rates	APR* _{as low as}	APR* _{as low as}	APR* _{as low as}	APR* _{as low as}
12 Months	7.87%	8.87%	9.12%	9.62%
24 Months	7.69%	8.69%	8.94%	9.44%
36 Months	7.63%	8.63%	8.88%	9.38%
48 Months	7.79%	8.80%	9.05%	9.55%
60 Months	7.88%	8.88%	9.13%	9.63%
72 Months	8.06%	9.06%	9.31%	9.81%

*APR = Annual Percentage Rate. Actual rate will be based on individual’s credit rating, amount financed, and other factors. On approved credit. Not all will qualify for the lowest rate. Rates are subject to change. APR based on loan amount of $25,000 for term and rate chosen. Other dollar amounts available. Payment Example: A 60 month $25,000 fixed rate secured new PowerSport loan at 7.88% APR* has an approximate monthly payment of $505.41.

Other Secured Loans

Age of Vehicle	0-2 years	3-4 years	5-7 years	8+ years
Term Rates	APR* _{as low as}	APR* _{as low as}	APR* _{as low as}	APR* _{as low as}
12 Months	7.87%	9.12%	9.62%	10.12%
24 Months	7.69%	8.94%	9.44%	9.94%
36 Months	7.63%	8.88%	9.38%	9.88%
48 Months	7.59%	8.85%	9.35%	9.85%
60 Months	7.73%	8.99%	9.49%	9.99%
72 Months	7.81%	9.06%	9.56%	10.06%
84 Months	8.05%	9.30%	9.80%	10.30%
120 Months	8.54%	9.79%	N/A	N/A

*APR = Annual Percentage Rate. Actual rate will be based on individual’s credit rating, amount financed, and other factors. On approved credit. Not all will qualify for the lowest rate. Rates are subject to change. APR based on loan amount of $25,000 for term and rate chosen. Other dollar amounts available. Payment Example: A 60 month $25,000 fixed rate new other secured loan at 7.73% APR* has an approximate monthly payment of $503.74.

Share Savings

Dividend Rate	APY*	Interest Compounded	Minimum Opening Deposit
0.05%	0.05%	Quarterly	$5.00