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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*
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

The information in the rate tables below may not fully be viewable on certain smaller resolution devices. Please rotate your device to landscape orientation to ensure you are viewing the entire table of information or please use a desktop computer.

Check the latest IRA rates:

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.
*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
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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.

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