Individual Retirement Accounts
Types Of IRAs
A great way to save for retirement or a college fund. You may even be eligible for a tax break!
Choose the IRA that's right for you:
Traditional IRA – If you are working and saving pre-tax money for your retirement; then later, in retirement when you withdraw that money, you want it taxed at a lower rate.
Roth IRA – If you don’t need a tax break now and want to save for retirement; when you save using your post-tax money now, future withdrawals should be tax free.
Coverdell Savings IRA – Is a tax-advantaged savings account if you want to save money for future education expenses of a designated beneficiary, such as a child or grandchild. Future education expenses include college expenses and certain elementary and secondary school expenses.
- No monthly service fee
- Only $100 is required to open account
- Earns a higher yield than a regular savings account
- Contributions may be made in "lump sum" or by regular deposits throughout the year
- Dividends are calculated daily and paid quarterly
- Rates are paid in a tiered format depending on the balance in the account
- All IRAs are insured up to $250,000 by the NCUA
| IRA Savings Rates | |||
| Effective Date: 11/22/24 | |||
| Account Type | Minimum Balance | APY | Dividend Rate |
| Traditional, Roth, Coverdell | $100 | 0.05% | 0.050% |
| Traditional, Roth, Coverdell | $5,000 | 0.10% | 0.100% |
| Traditional, Roth, Coverdell | $10,000 | 0.15% | 0.150% |
| Health Savings Account (HSA) | $10.00 | N/A | N/A |
| Health Savings Account (HSA) | $300 | 0.05% | 0.050% |
| *All IRA and HSA savings dividends are paid quarterly. | |||
*APY = Annual Percentage Yield. APR = Annual Percentage Rate. All dividends may vary and are not declared until the end of the period. Dividends are calculated based on the daily ending balance in the account.
Stop by the branch or contact a SnoCope Representative at 425-405-9973 to open an IRA.
IRA Certificates* (IRA CDs)
Similar to our regular Share Certificates but tax advantaged as long as the funds remain in the account. Earn higher dividends with deposits you put into our Share Certificates. Share Certificates offer a safe, guaranteed return for a specified period of time.
- Minimum balances as low as $500
- Dividends are calculated daily and paid monthly
- Lock into a rate for a guaranteed return
*Please contact us for more information about the individual plan options.
| IRA Certificates | |||
| Effective Date: 11/22/24 | |||
| Term | Minimum Balance | APY | Dividend Rate |
| 6 Months | $500 | 3.14% | 3.100% |
| 12 Months | $500 | 3.40% | 3.350% |
| *All IRA CDs are auto renewing. IRA CD dividends are paid monthly. | |||
*APY = Annual Percentage Yield. APR = Annual Percentage Rate. All dividends may vary and are not declared until the end of the period. Dividends are calculated based on the daily ending balance in the account.
Stop by the branch or contact a SnoCope Representative at 425-405-9973 to open an IRA.
Health Savings Accounts (HSAs)
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