IRA Deposit Accounts
The Co-op Credit Union IRA Deposit Account allows you to make deposits in increments and in any amount after you have made your initial minimum deposit of $250 to open your account. This account is a good choice if you wish to make monthly or weekly deposits to an IRA. If you should choose to change the investment at a later date to any IRA certificate, you can do that. The rate may vary on a quarterly basis. This investment option can be used for any type of IRA: Roth, Traditional, Coverdell Education, or Simplified Employee Pension.
IRA Certificates of Deposit
Any Certificate of Deposit that the Co-op Credit Union offers can be used as an IRA investment option. Certificates of Deposit have a fixed term, ranging from six months to four years. The interest rate is guaranteed for the term of the certificate. Certificates of Deposit also have a minimum deposit to open the account. A Certificate of Deposit can be used for any type of IRA: Roth, Traditional, Coverdell Education, or Simplified Employee Pension.
Simplified Employee Pension (SEP)
A tax-deferred retirement plan provided by sole proprietors or small businesses, most of which do not have any other retirement plan.