POCU offers both traditional IRA and Roth IRA options.
Account Features & Benefits
|IRA Savings Account||IRA Term Share Account|
|Minimum Deposit to Open||$5||$500|
|Fixed or Variable Rate||Variable||Fixed|
|Minimum Balanced to Earn Dividends/Interest||$50||$500|
|Balance Computation Method||Average Daily Balance||Daily Balance|
|Additional Deposits||Allowed||Not Allowed|
|Dividend/Interest Withdrawal||Allowed||At Maturity Without Penalty|
- Direct deposit allows smaller amount deposits into an IRA Passbook Account, and you’ll be able to make a large lump sum transfer into a fixed rate IRA investment at the end of year.
- If you are receiving a lump-sum distribution from a qualified retirement plan, you can deposit the funds into an IRA Rollover Account. This will allow you to maintain the tax-sheltered status of your company’s retirement/savings plan.
- Variable rate dividends paid on account balances of $50.
- Fixed rate IRAs are available in popular term lengths, subject to IRA regulations.
- Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government, through the National Credit Union Administration (NCUA), a U.S. government agency
For details, see our IRA disclosures and current IRA Savings and Certificate rates.
Our comprehensive POCU Truth in Savings Disclosure 2014is available for your convenience and review.