Individual Retirement Accounts (IRAs)Invest in your retirement with these reliable options.Contact us today to open your account. Call 800.845.5025 View ratesQuestions? We can help. Call 800.845.5025Connexus IRA AccountsChoose the retirement account that works for your unique timeline and goals.IRA Share CertificatesThese Certificates offer a fixed yield and term with a fixed maturity. Certificate RatesTermCertificate $5,000+ APY1Jumbo Certificate $100,000+ APY212 months5.61%5.76%24 months5.01%5.26%36 months4.51%4.76%48 months4.01%4.26%60 months3.91%4.16%Accurate as of 09/21/2023 Call 800.845.5025 Bump-Up IRA Share CertificateThe Bump-Up IRA Share Certificate yields offer the option to bump the rate once during the term. Share Certificate – Bump-up RatesTermAPY324 months4.31%Accurate as of 09/21/2023 Call 800.845.5025 IRA Savings AccountsThese accounts have variable interest and no fixed term. Plus, there’s no minimum opening deposit required. IRA Savings Account Rates – NewBalanceAPY4$10,000 and over0.40%$0 to $9,999.990.25%Accurate as of 09/21/2023 Call 800.845.5025 Features Versatile optionsTraditional and Roth IRAs are available. Fast growthYour dividends are compounded quarterly. Reliable protectionYour money is federally insured by the National Credit Union Administration (NCUA) to at least $250,000. Learn more at MyCreditUnion.gov.Traditional vs RothTraditional IRAsThese are potentially tax-deferred retirement plans. Your qualified contributions may be tax-deductible and can be made at any age, as long as you have earned income. Taxes are paid on your funds at the time of withdrawal.Annual contribution limits for Traditional IRAs IRA Contribution LimitsAge20222023Under 50$6,000$6,50050 and Over$7,000$7,500 Roth IRAsRoth IRA contributions are made with after-tax dollars. Funds are tax-free when withdrawn unless you are taxed for early withdrawal penalties before age 59 ½. As long as you have earned income, contributions can be made at any age.Annual contribution limits for Roth IRAs IRA Contribution LimitsAge20222023Under 50$6,000$6,50050 and Over$7,000$7,500 FAQs: You asked. We answered. a How do I open a Traditional or Roth IRA? To apply for a Traditional or Roth IRA, please call our Member Contact Center at 800.845.5025, and we’ll help you get started. a I don’t know which IRA is right for me. How can I figure that out? To determine which IRA is best for you, please consult your tax professional. a Can I still contribute to my Traditional IRA if I make too much money for an IRA tax deduction? Yes. There are no income limits to make contributions to a Traditional IRA. However, it is possible to be affected by filing status and participation in an employer retirement plan. Contributions must not exceed IRS limits. For more details or visit IRS.gov. a What is the maximum I can contribute to my Roth IRA? Your annual Roth IRA contributions cannot exceed your annual compensation or the limits set by the IRS, whichever is less. See a tax professional for more details or visit IRS.gov for IRS limits. a Can I contribute to both a Traditional and a Roth IRA? Yes, as long as you do not exceed the contribution limits set by the IRS. See a tax professional for more details of visit IRS.gov for IRA limits. a Can’t find what you’re looking for? Ask us! Notice: JavaScript is required for this content. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. DisclosuresAPY = Annual Percentage YieldSee our Fee Schedule for a list of fees you may encounter. Because these accounts have different features and deposits are based on your personal tax situation, contact your tax or legal professional or the IRS for specific tax information about state or local income taxes. This is intended to provide general information on federal regulations pertaining to Traditional and Roth IRAs. It is not meant to provide legal advice or individual tax recommendations. IRA contribution limits are determined by the IRS and apply to any financial institution, not just Connexus. 1Rates are accurate as of 09/21/2023 and are subject to change. Connexus Credit Union membership and $5,000 opening deposit required. A penalty will be imposed for early withdrawal. Fees may reduce earnings. Offer not valid on business or organization accounts. 2Rates are accurate as of 09/21/2023 and are subject to change. Connexus Credit Union membership and $100,000 minimum deposit required. A penalty will be imposed for early withdrawal. Offer not valid on business or organization accounts. 3Rates are accurate as of 09/21/2023 and are subject to change. Connexus Credit Union membership and $5,000 minimum deposit required. A penalty will be imposed for early withdrawal. Offer not valid on business or organization accounts. Bump-Up Share Certificates allow a one-time rate increase during the original term plus a one-time rate increase during each subsequent term. You must exercise the bump-up rate increase option during the then-current term. Please see the Truth-in-Savings disclosure for more information. 4APY accurate as of 09/21/2023 and are subject to change. Connexus Credit Union membership required. Fees may reduce earnings. ATM transactions not included.
