Individual Retirement Accounts (IRAs)
SRI (socially responsible investing) IRA (retirement accounts)
Open an Account / Deposit Forms Current Deposit Rates
Self-Help offers three types of IRAs that allow you to plan for your retirement or child’s education while supporting community development.
Traditional IRAs (contributions may be tax deductible, and taxes on dividends (interest earned) are deferred until retirement)
Roth IRA (contributions are not tax deductible, but earnings accumulate tax-free and remain tax-free upon distribution)
Coverdell Education Savings Account (contributions are not tax deductible, but earnings are tax-free and remain tax-free upon distribution to beneficiary who uses it for authorized education expenses)
Rollovers and transfers require additional forms that we will supply when you call. We require that all necessary forms be completed before an IRA account is opened. If you are not currently a SHCU or SHFCU member, you must first apply for a membership.
You can open a Self-Help IRA share account with as little as $25, and earn the same rate of return as a 12 month term certificate (CD). Or for $500 minimum, you can open an IRA term certificate (CD) account at 12, 24, 36, 48, or 60 months, earning the same interest rate as our standard CDs. You can also transfer or rollover your IRA from another institution to Self-Help at any time.
Your savings at Self-Help Credit Union and Self-Help Federal Credit Union are federally insured by the National Credit Union Administration (the equivalent of the FDIC for credit unions) to at least the $250,000 limit.
