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IRAs

Start saving for retirement with an IRA.

If you’re planning for a long, active retirement, you’ll want an account that will help you stay on track toward your retirement goals. In a few easy steps, we can start a new Individual Retirement Account (IRA) or transfer your existing IRA from any other financial institution. We offer traditional, Roth and SEP IRA plans to best fit your overall goals. Have extra peace of mind knowing that your IRA is federally insured up to $250,000 by NCUA, separate from your other insured accounts. Have one of our knowledgeable associates help you set up an Individual Retirement Account at any of our convenient branch locations. Schedule an appointment to open your new account today.

Individual Retirement Account Plans

Choose one of the three plans we offer for your Individual Retirement Account. Please note that Landmark Credit Union does not offer simple Individual Retirement Accounts.

CARES Act Changes to IRAs

Congress recently passed the CARES Act which includes the following changes to IRAs meant to help combat the economic effects of COVID-19:

  • Prior year IRA contributions may be made until July 15, 2020.
  • Individuals are not required to take their 2020 required minimum distributions (RMDs) from their Traditional or SEP IRAs.
  • Eligible individuals may withdraw up to $100,000 in coronavirus-related distributions (CRDs) from all of their eligible retirement plans (including IRAs) combined, please contact your tax advisor for the tax consequences of this type of withdrawal.

Traditional IRA

  • Best plan to start with to roll over your pension or 401(k)
  • Good option for people that know their tax rate will be lower after retirement
  • Contributions may be tax deductible
  • Income Taxes are owed on withdrawals
  • Annual contribution limit of $6,0001

Roth IRA

  • Great for individuals who are looking for tax-free growth
  • Contributions are not tax deductible
  • Earnings and qualified withdrawals are tax-free
  • Flexible access to contributions made.
  • Do not have a required minimum distribution (RMD) at age 72
  • Annual contribution limit of $6,0001

SEP IRA

  • Great for small business owners and the self-employed
  • A type of Traditional IRA
  • Contributions made to the SEP IRA come from the employer

Individual Retirement Account Options

Each plan is made up of one or several Individual Retirement Accounts. Choose the accounts that best fit your overall strategy. Earn interest on the money you set aside with any of the accounts below.

Individual Retirement Account Savings

Choose a general savings account for a flexible option, offering standard savings account interest rates.

Product Rate APY
IRA (Savings) 0.10% 0.10%

IRA Money Market2

Earn competitive money market rates. The minimum balance to open the VIP Money Market is $2,400, Money Market Index Plus is $10,000 and the Signature Money Market3 is $2,500. If, at any time during the month, your account balance falls below the minimum amount, your account will be subject to a service fee and a reduced interest rate.

Product Rate APY4
Signature Money Market (>$100,000) 0.50% 0.50%
Signature Money Market ($75,000-$99,999.99) 0.40% 0.40%
Signature Money Market ($50,000-$74,999.99) 0.35% 0.35%
Signature Money Market ($2,500 - $49,999.99) 0.10% 0.10%
Money Market Index Plus 0.25% 0.25%
VIP Money Market 0.20% 0.20%

Individual Retirement Account Certificate5

Select the certificate term that best fits your needs, from 91 days to 5 years. Open with an initial deposit of $500 or more. After the account is opened, you may not make additional deposits until the maturity date is reached. The certificate account will automatically renew at maturity.

Maturity Date Rate APY
91 Days 0.20% 0.20%
6 months 0.30% 0.30%
9 months 0.35% 0.35%
1 year 0.45% 0.45%
13 Months Special 0.55% 0.55%
1 1/2 years 0.55% 0.55%
2 years 0.60% 060%
3 years 0.80% 0.80%
4 years 0.90% 0.90%
5 years 1.00% 1.00%

Currently retired or changing jobs?

We can easily handle all of the paperwork to move your 401(k) and/or pension. Visit any branch location for transfers or rollovers and bring your most recent statement or distribution election packet.

Schedule an Appointment

Start planning your life after work, now. Let’s talk.

Schedule an Appointment

APY is Annual Percentage Yield. Rates and APYs are variable and subject to change. Fees could reduce the earnings on the account.

1 To be eligible to contribute, IRS rules require you to have earned income. The limit is a combined total between the Roth and the Tradition, not to each of them. If the IRA owner is 50 or older they receive an additional catchup contribution of $1,000.

2 Minimum balance to open the VIP Money Market is $2,400, Money Market Index Plus - $10,000. If balance falls below the minimum, the account will be assessed a monthly minimum balance fee and will earn reduced or no interest until minimum balance requirement is met. Financial institutions and public funds are ineligible.

3 Signature Money Market has the following balance tiers and corresponding rates: $2,500-$49,999.99 (0.10% APY); $50,000-$74,999.99 (0.35% APY); $75,000-$99,999.99 (0.40% APY); $100,000 and above (0.50% APY). Rates are variable. Some tiers may earn the same APY; APY is subject to change based on balance tier. Dividends calculated by applying the highest rate based on the balance tier to the entire account balance. Minimum balance to open the Signature Money Market is $2,500. If balance falls below the minimum, the account will be assessed a monthly minimum balance fee and will earn no interest until the minimum balance requirement is met. Financial institutions and public funds are ineligible.

4 Minimum balance to open the Signature Money Market is $2,500, VIP Money Market - $2,400, Money Market Index Plus - $10,000. If balance falls below the minimum, the account will be assessed a monthly minimum balance fee and will earn reduced or no interest, as disclosed above, until minimum balance requirement is met.

5 There is a penalty for early certificate withdrawal. Fees imposed on accounts will reduce actual earnings. Rates and terms are subject to change without notice. Early withdrawal penalty applies and may reduce principal. Financial institutions and public funds are ineligible.

Routing Number: 275079714
NCUA Equal Opportunity Housing
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