Individual Retirement Account

Whatever your retirement plans may include – touring the coasts, serving a mission, visiting grandchildren around the country, or watching your favorite show – we can take the stress out of planning with retirement savings options. Look to DFCU for all your Investment needs.

 

 

Traditional IRAs

The Traditional IRA is one of the most popular types of IRAs. Contributions to a Traditional IRA may be fully or partially tax deductible.** Any deductible contributions and the earnings on the account are not taxed until you make withdrawals in your retirement.**

Roth IRAs

The Roth IRA has some similarities to the Traditional IRA, but contributions made are not tax deductible. Because taxes have already been paid on the money you put into a Roth IRA, you do not pay taxes when it comes time to retire and you begin to make withdrawals. Earnings on your Roth IRA may also be tax free.**

Find the Right Fit for You!

Don’t know which one is best for you? Check out this quick chart for more information or give us a call!

 

APPLY NOW


Benefits

  • Great long-term savings options with IRA Certificates that Pay higher rates than normal savings accounts.
  • Flexibility to choose between many options for a Savings Account or Share Certificate.
  • Contributions are simple to make – annually, monthly, or bi-weekly – you choose the best option for you.
  • Security: Federally insured by the NCUA up to $250,000, separate from other deposit accounts.
  • Tax advantages**: Interest earned in an IRA is not reported to the IRS.
  • Account owner has easier access to their credit union account than other retirement accounts.

Requirements

  • Membership and eligibility.
  • Must be under age 70½ to make out-of-pocket contributions to Traditional IRAs.
  • IRS requires annual withdrawals from Traditional IRAs  starting at age 70½.

For questions or to apply, call 801-456-7000 or 1-800-326-3328 weekdays: 8am-7pm, Sat: 9am-2pm or visit any Deseret First Branch


IRA Savings Account Rates

Rate APY
IRA Savings 0.20% 0.20%

IRA Regular Share Certificate Rates

$500 MINIMUM

Standard Rates Loyalty Rates
Rate APY Rate APY
3-5 Months 0.25% 0.25% 0.25% 0.25%
6-11 Months 0.75% 0.75% 1.24% 1.25%
12-23 Months 1.73% 1.75% 2.23% 2.25%
24-35 Months 1.98% 2.00% 2.47% 2.50%
36-47 Months 2.23% 2.25% 2.71% 2.75%
48-59 Months 2.42% 2.45% 2.91% 2.95%
60 Months 2.66% 2.70% 3.15% 3.20%

IRA Jumbo Share Certificate Rates

$75,000 MINIMUM

Standard Rates Loyalty Rates
Rate APY Rate APY
6-11 Months 0.75% 0.75% 1.24% 1.25%
12-23 Months 1.73% 1.75% 2.23% 2.25%
24-35 Months 1.98% 2.00% 2.47% 2.50%
36-47 Months 2.23% 2.25% 2.71% 2.75%
48-59 Months 2.42% 2.45% 2.91% 2.95%
60 Months 2.66% 2.70% 3.15% 3.20%
Rates quoted as Annual Percentage Yield. The APY applies to balances beginning at $.01. Federally insured by NCUA. Early withdrawal penalties may apply.
*Loyalty accounts are defined to include (1) an active checking account demonstrating that DFCU is the member’s primary financial institution for a minimum of 90 days, and (2) has Direct Deposit with the majority of the member’s payroll for a minimum of 90 days.
**Consult your tax adviser