IRAs – Traditional & Roth IRA
Super-size your future savings.
There’s more than one way to prepare for retirement
Individual Retirement Accounts (IRAs) can give you greater financial stability. With tax-advantage options for every life stage, they help pave the way to a comfortable retirement.
Benefits
Our Traditional and Roth IRAs are popular amongst many of our members. Here’s why they choose EastRise:
Tax advantages
Enjoy tax-deferred growth1 or tax-free withdrawals, helping you maximize your retirement savings.
Flexible contributions
Contribute at your own pace and adjust your savings plan as your financial situation changes, making it easier to meet your goals.
Secure your future
Our IRAs offer a range of investment options, allowing you to build a diverse portfolio that aligns with your long-term financial strategy.
Your options at a glance
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Ideal if…
Ideal if…
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Tax advantages
Tax advantages
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Distributions
Distributions
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Rollovers
Rollovers
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Contribution limits
Contribution limits
Traditional IRA
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Ideal if…
You want to make contributions that may be tax-deductible and dividends that are tax-deferred
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Tax advantages
Contributions you make to Traditional IRAs offered by EastRise may be tax deductible. Taxes on earnings may be deferred until retirement.
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Distributions
Distributions are required when you reach retirement age
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Rollovers
You can roll an employee-sponsored retirement plan into your IRA
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Contribution limits
Contribution limits are updated annually
Roth IRA
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Ideal if…
You are younger and expect to be in a higher tax bracket when you retire
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Tax advantages
Contributions are not tax-deductible but could be eligible for tax credit under certain circumstances
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Distributions
Early qualified distributions from your EastRise Roth IRA are allowed
Minimum distributions are not required when you reach retirement age
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Rollovers
You can roll an employee-sponsored retirement plan into your IRA
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Contribution limits
Contribution limits are updated annually.
Current rates
|
Term |
Minimum Balance to Earn APY |
APY |
|---|---|---|
| Rates effective 12/11/2024 | ||
|
APY = annual percentage yield and reflects the current minimum APY offered. Rates are subject to change after account opening. Fees could reduce earnings. Early withdrawal penalties may apply to Certificates. *The 7-month certificate will be offered for a limited time and will renew to the 1-year term at maturity. The IRA Savings account requires a minimum balance of $5 to open the account. |
||
|
Term IRA Savings |
Minimum Balance to Earn APY None |
APY .20% |
|
Term 6-month |
Minimum Balance to Earn APY $500 |
APY 3.00% |
|
Term 7-month Special* |
Minimum Balance to Earn APY $500 |
APY 4.10% |
|
Term 1-year |
Minimum Balance to Earn APY $500 |
APY 3.50% |
|
Term 2-year |
Minimum Balance to Earn APY $500 |
APY 3.50% |
|
Term 3-year |
Minimum Balance to Earn APY $500 |
APY 3.50% |
|
Term 4-year |
Minimum Balance to Earn APY $500 |
APY 3.50% |
|
Term 5-year |
Minimum Balance to Earn APY $500 |
APY 3.50% |
|
Type |
Minimum to Earn APY |
Balance Tier |
APY |
|---|---|---|---|
| Rates effective 12/11/2024 | |||
|
APY = annual percentage yield. Early withdrawal penalties may apply. Fees could reduce earnings. |
|||
|
Type 18-month |
Minimum to Earn APY $5.00 |
Balance Tier $5.00 – $24,999.99 |
APY 4.07% |
|
Type 18-month |
Minimum to Earn APY $25,000 |
Balance Tier $25,000 and over |
APY 4.23% |