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Individual Retirement Accounts (IRA)*

NJFCU Members can save and secure their retirement with a Traditional and Roth IRA Accounts.

IRA Certificates

Putting money in an IRA can help you prepare for retirement, save on taxes and access investment options your workplace retirement plan might not offer. Your savings may grow faster in an IRA than in a taxable account.

WHY CHOOSE A NJFCU IRA?

Our members get an individual retirement account (IRA) that is a tax-advantaged investment account individuals use for retirement savings. Contributions to some IRAs may be tax-deductible or withdrawals may be tax-free.

Individual taxpayers can establish traditional and Roth IRAs, while small-business owners and self-employed individuals can set up SEP and SIMPLE IRAs. An IRA must be opened with an institution that has received Internal Revenue Service (IRS) approval to offer these accounts.

Check out our information and rates below.

What is an Individual Retirement Account?

An individual retirement account (IRA) is a tax-advantaged investment account individuals use for retirement savings. Contributions to some IRAs may be tax-deductible or withdrawals may be tax-free. IRAs are available at NJFCU!

A 401k Might Not Be Enough

A 401(k) or pension may not provide enough retirement income. Putting money in an IRA can help you prepare for retirement, save on taxes and access investment options your workplace retirement plan might not offer. Your savings may grow faster in an IRA than in a taxable account.

Traditional IRA Benefits:

A Traditional Individual Retirement Account is suitable if you’re looking to stay in the same or lower tax bracket.

  • Minimum opening deposit of $500
  • Terms from 6 months to 60 months
  • Dividends are compounded and paid monthly or quarterly depending on the account type
  • Enjoy tax-advantaged, guaranteed earnings*

 

*If you withdraw principal from a certificate account prior to maturity, an early withdrawal penalty will apply.
Note: Consult with your tax advisor or attorney regarding deductibility and contribution limits
IRA
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ROTH IRA Benefits:

A Roth Individual Retirement Account is good if you are looking to be in a higher tax bracket.

  • Minimum opening deposit of $100
  • Terms from 6 months to 60 months
  • Dividends are compounded and paid monthly or quarterly depending on the account type
  • Secure earnings with tax-free growth

Rates Effective as of January 2, 2024

North Jersey FCU reserves the right to change the rates without notice if necessary. There are times when this update may be experiencing technical difficulties and may not be able to be updated in a timely fashion. APR = Annual Percentage Rate. Restrictions may apply. Rate determined by credit score. Other rates may apply. We attempt to keep this page as updated as possible. However, from time to time system maintenance and other circumstances may prevent us from doing so. Therefore any rates quoted on this web page are subject to change. We are not financially responsible for typographical errors.

The information in the rate table below may not fully be viewable on certain smaller resolution devices. Please scroll the table contents or you can rotate your device to landscape orientation to ensure you are viewing the entire table contents.

Individual Retirement Term Share Certificates

Term6 Months12 Months18 Months24 Months30 Months36 Months60 Months
DIVIDENDS
Annual Percentage Yield (APY), %
.10% .20% .20%.30%.30%0.35%0.50%
Dividend Rate, %.10% .20% .20%.30%.30%0.35%0.50%
Dividends CreditedMonthlyMonthlyMonthlyMonthlyMonthlyMonthlyMonthly
BALANCE REQUIREMENTS
Minimum Opening Balance
$1,000.00$1,000.00$1,000.00$1,000.00$1,000.00$1,000.00$1,000.00
Minimum to Earn APY$1,000.00$1,000.00$1,000.00$1,000.00$1,000.00$1,000.00$1,000.00

Maximum contributions vary; please consult with your tax advisor. 10% penalty for withdrawals if under 59 1/2 years old or funds not rolled over into another IRA plan within 60 days.

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Get Started:

Call 973-785-9200 | email: [email protected]

North Jersey Federal Credit Union is ready to assist you in planning for retirement. Choose our NJFCU Traditional or Roth IRA, depending on your needs.