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IRA Share Certificates
With an IRA Share Certificate, you can lock in the rates of a Certificate which are the benefits of an IRA. Receive high yields, paid monthly, while your earnings are tax-deferred until you begin making withdrawals.
Requirements:
- A minimum balance of $1,000 is required to open an IRA Certificate for a term of one to five years.
Share Certificate Account Rates
Effective Date: Thursday, November 21, 2024
| Account Type | Dividend Rate | APY* | How to Open | |
|---|---|---|---|---|
| Right Start Certificate 1 | $200 min | .200% | 0.20% | |
Save to Win 1 yr 3 | $25 min | .150% | 0.15% | |
| Share Certificate 1 yr (Incl. IRA) 2 | $1,000 min | .200% | 0.20% | |
| Share Certificate 13 mo (Incl. IRA) 2 | $1,000 min | .648% | 0.65% | |
| Share Certificate 2 yr (Incl. IRA) 2 | $1,000 min | .250% | 0.25% | |
| Share Certificate 3 yr (Incl. IRA) 2 | $1,000 min | .300% | 0.30% | |
| Share Certificate 4 yr (Incl. IRA) 2 | $1,000 min | .300% | 0.30% | |
| Share Certificate 5 yr (Incl. IRA) 2 | $1,000 min | .349% | 0.35% |
*APY = Annual Percentage Yield. All dividend rates and APY may change at any time. The APYs shown above assume that all principal and dividends remain on deposit for the entire term. Fees could reduce earnings on the above accounts. Penalties apply for early withdrawal from Share Certificates. Additional account information is provided in separate Account Disclosures. Rates are subject to change weekly. Funds earn dividends from the first business day of deposit and are compounded daily and posted monthly. Money Market dividends are calculated on the full balance using the highest applicable dividend rate. Accrued dividends are forfeited if account is closed prior to monthly dividend posting. Fees or other conditions may reduce earnings.
1 $200 Minimum to open account. Must maintain average daily balance of $200 to receive the above stated dividend.
2 $1,000 Minimum to open account. Must maintain average daily balance of $1,000 to earn the above stated dividend.
3 $25 Minimum to open account. Must maintain average daily balance of $25 to earn the above stated dividend. One withdrawal from the account, with a $25.00 penalty to be assessed at the time of withdrawal, is allowed during the term of the Save to Win® Certificate. If the early withdrawal reduces the principal below the minimum balance or a second withdrawal is performed in the 12-month term, the certificate will be closed. Great Lakes Credit Union will deduct from the share certificate principal amount to cover the penalty. Additional deposits are allowed during the term of this certificate. For every $25.00 increase in month over month balance, the certificate owner will earn one entry (up to 10 entries per month/30 entries per quarter) into the savings raffle. The Savings Promotion Raffle runs January - December, however certificates will mature 12 months after account opening. The Official Rules can be found online at www.savetowin.org and are provided upon opening the certificate.