An IRA (Individual Retirement Account) enables you to make tax-deductible contributions to your retirement savings. E&G Employees FCU ‘s IRA accounts are a popular choice for those who want the account to grow safely without risking the ups and downs of the stock market.
With a traditional IRA account, members can contribute up to $5,500* per year and their account will continue to grow tax-deferred. Members who are over 50 years old may contribute up to $6,500* per year, using the catch-up provision. IRA account funds are saved in certificates that offer a dividend rate* that is higher than our normal certificate rates and use terms from 12 to 24 months.
- 12-23 Month Term
- 24-36 Month Term
*Maximum annual contribution is determined by the prevailing IRS regulations and are subject to change. Current rates are available here