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Individual Retirement Account (IRA) Term Certificates

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  • IRA Term Certificates

    Each of our IRA share certificates1 helps you save for what matters at a tax-advantage. An IRA share certificate enables you to reduce your current tax burden by not paying any tax-money on your deposits until after you retire.

    Restrictions may apply, so always be sure to consult your certified tax professional for complete details.

    • $500 minimum deposit required
    • Maximum contribution of $6,500 ($7,500 if you’re 50 or older) or 100% of employment compensation²
    • Earn dividends at a fixed rate
    • APY³ bonus with Member Benefits

    LAPFCU members also have access to personalized assistance with financial and retirement planning via CUSO Financial Services, L.P. Find out more!

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  • Rates

    IRA Rates

    IRA Term Certificates- Member Benefit Rates

    Term Regular $500 - $49,999 APY*Jumbo $50,000 - $99,999 APY*Super Jumbo $100,000+ APY*
    6 months 2.50% 2.55% 2.60%
    1 year3.25% 3.30% 3.35%
    2 years 3.30% 3.35% 3.40%
    3 years 3.35% 3.40% 3.45%
    4 years 3.40% 3.45% 3.50%
    5 years 3.45% 3.50% 3.55%

    EFFECTIVE RATE DATE: July 13, 2023
    IRA TERM CERTIFICATES – Member Benefits Dividend Rate. Early withdrawal penalties may apply. Ask for complete details. Rates are subject to change.

    *APY = Annual Percentage Yield.
    **Rate bonus is applicable for new and renewing IRA Certificates. Any rate bonus received will remain in effect for the term of the certificate. Program Rate bonus may not be combined with any other promotion. If You qualify for Member Benefits upon certificate renewal, rate bonus will automatically be applied.

  • FAQS

    What is the maximum contribution limit for an IRA?

    For both Roth and Traditional IRAs, the maximum contribution limit is $6,000 or 100% of employment compensation, whichever is less.³

    Individuals age 50 or older (in the calendar year of their contribution) can contribute an additional $1,000 each year (for a total of $7,000).

    Who is eligible to open an IRA?

    For a Traditional IRA, anyone age 18 or older, 4 with employment compensation. For a Roth IRA, anyone under age 70.5 with employment compensation.

    Can I make catch-up contributions?

    Yes. Individuals age 50 or older can contribute an additional $1,000 each year.

    What is the contribution deadline?

    There is no deadline for contributions made within the same year. For carry-back contributions from the previous year, the deadline is April 15.

    Are distributions required?

    Roth IRA: Does not require any distributions during the lifetime of the account’s owner.

    Traditional IRA: Starts requiring distributions at 70.5.

    Are there any withdrawal penalties?

    Roth IRA: A non-qualified distribution is subject to taxation of earnings and a 10% additional tax unless an exception applies.

    Traditional IRA: Withdrawals before 59.5 may be subject to a 10% early withdrawal penalty unless an exception applies.

    Can you tell me a little bit how the tax advantages work for each account?

    Roth IRA: For this account, you can withdraw contributions tax-free. Earnings are federally tax-free after the five-year aging requirement has been satisfied and one of the following conditions is met: age 59½, death, disability, or qualified first-time home purchase.

    Traditional IRA: Withdrawals of pre-tax contributions and any earnings are taxable when distributed.


    For more information, or if you have questions, please get in touch with us

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1Consult your tax advisor as to which IRA would suit your specific situation. $500 minimum deposit to open. 2At least one spouse must have employment compensation to contribute to an IRA. 3APY = Annual Percentage Yield. 0.25% dividend rate bonus applied to new or rollover Share/IRA Certificates. Member must fulfill Member Benefits Program requirements in order to receive incentives. Program is subject to change or cancellation at any time without notice. Restrictions may apply. Ask for details. Member Benefits incentives may not be combined with any other offers. 4You must be at least 18 years old to open an IRA with LAPFCU.