Individual Retirement Accounts (IRAs)

IRAs allows you to save for the future, and True Sky Credit Union can help you maximize your retirement. In addition to $250,000 in federal deposit insurance through NCUA, your IRA funds are separately insured by the federal government for up to an additional $250,000 through NCUA.

Traditional IRA

An IRA is a special tax-deferred savings plan authorized by the federal government to encourage you to accumulate money for retirement. The Traditional IRA is a personal savings plan that accounts earnings to be tax deferred until distributed. 

Roth IRA

Make annual non-deductible contributions. Unlike a traditional IRA, in which earnings are tax-deferred, Roth IRA earnings can be tax-free. A Roth IRA is nondeductible, but the interest earned is tax-free if distributed for a qualifying reason. A Roth must be designated as a Roth IRA at the time it is established. 

View the IRA Differences Chart to see what IRA is best for you.

Coverdell Educational Savings Account (ESA)

A Coverdell ESA (Educational Savings Account) can help save for a child's education expenses such as tuition, fees, books, supplies, equipment and in some cases, room and board. 

Any family member or non family member can contribute to a child's ESA as long as the income falls below the applicable income limits. 

The responsible individual shall be a parent or legal guardian of the ESA owner. The responsible individual is the only one who can make withdrawals until age 30 and any balance after that age shall be distributed within 30 days.  

IRA Share Savings Account

Make contributions as often as you like, up to the legal limit. Build your IRA quickly and automatically with payroll deductions.

  • Dividends accrue daily and are credited monthly
  • Statements mailed quarterly
  • Start with as little as $25

Choose any True Sky CD below for your IRA investment. Contact True Sky for more information. 

Balance Requirements Dividend Rate APY APR Repayment Term
90 Days CD APY = Annual Percentage Yield. Rate as of 10/25/18 and subject to change at anytime. The APY assumes dividends are compounded monthly and will remain on deposit until maturity. A penalty may be charged for early withdrawal. Fees may reduce earnings. $1,000 .70% .70%
6 Month CD APY = Annual Percentage Yield. Rate as of 10/25/18 and subject to change at anytime. The APY assumes dividends are compounded monthly and will remain on deposit until maturity. A penalty may be charged for early withdrawal. Fees may reduce earnings. $1,000 .85% .85%
7-12 Month CD APY = Annual Percentage Yield. Rate as of 10/25/18 and subject to change at anytime. The APY assumes dividends are compounded monthly and will remain on deposit until maturity. A penalty may be charged for early withdrawal. Fees may reduce earnings. $1,000 1.05% 1.06%
13-23 Month CD APY = Annual Percentage Yield. Rate as of 10/25/18 and subject to change at anytime. The APY assumes dividends are compounded monthly and will remain on deposit until maturity. A penalty may be charged for early withdrawal. Fees may reduce earnings. $500 1.25% 1.26%
24-35 Month CD APY = Annual Percentage Yield. Rate as of 10/25/18 and subject to change at anytime. The APY assumes dividends are compounded monthly and will remain on deposit until maturity. A penalty may be charged for early withdrawal. Fees may reduce earnings. $500 1.40% 1.41`%
36-47 Month CD APY = Annual Percentage Yield. Rate as of 10/25/18 and subject to change at anytime. The APY assumes dividends are compounded monthly and will remain on deposit until maturity. A penalty may be charged for early withdrawal. Fees may reduce earnings. $500 1.85% 1.87%
48-60 Month CD APY = Annual Percentage Yield. Rate as of 10/25/18 and is subject to change at anytime. The APY assumes dividends are compounded monthly and will remain on deposit until maturity. A penalty may be charged for early withdrawal. Fees may reduce earnings. $500 2.00% 2.02%

Disclosures

APY = Annual Percentage Yield. The APY assumes dividends are compounded monthly and will remain on deposit until maturity. A penalty may be charged for early withdrawal. Fees may reduce earnings. Rates as of 3/1/2018 and subject to change at anytime. All IRAs are insured for an additional $250,000 by NCUA.