IRA Certificates
Earn, save, and thrive.
Sometimes your average savings account or financial bond just isn’t enough to meet your savings needs. Red River Credit Union is proud to provide unique IRA certificate options for every unique budget, goal, and time frame.
- Monthly or quarterly dividends
- A choice between credited or compounded earnings
- Flexible certificate lengths
- Competitive APY* rates
- Insured by NCUA
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IRA Certificate Rates
Minimum opening and running balance for IRA Certificates is $500 unless indicated otherwise.
| Account Type | Dividends Credited/ Compounded |
Monthly/ Quarterly |
Monthly/ Quarterly APY* |
|---|---|---|---|
| 12 Months | Monthly/Quarterly | 3.95 % | 4.02 % / 4.02 % |
| 18 Months | Monthly | 3.65 % | 3.71 % |
| 24 Months | Monthly/Quarterly | 3.75 % | 3.81 % / 3.81 % |
| 36 Months | Monthly/Quarterly | 3.00 % | 3.04 % / 3.04 % |
| 48 Months | Monthly/Quarterly | 3.00 % | 3.04 % / 3.04 % |
| 60 Months | Monthly/Quarterly | 3.00 % | 3.04 % / 3.04 % |
*APY=Annual Percentage Yield. Rate subject to change without notice. A penalty will be imposed for early withdrawal.
Rates Effective: 2/01/2023
IRA Certificates FAQs
Q: What is the minimum opening or running balance for an IRA certificate?
A: Unless otherwise noted, Red River Credit Union requires a minimum running balance of $500 for all IRA certificates.
Q: What is the difference between IRA certificates and share certificates?
A: Both IRA and share certificates are time-based accounts requiring money to be invested over time to gain value. IRA certificates are specifically geared towards retirement funds and provide tax benefits and low-risk investment options for those planning for retirement.
Q: Can I withdraw funds from my IRA certificate early?
A: Investors may withdraw their IRA certificate funds at any time, although they will be subject to fees and early withdrawal penalties. Contact your Red River Credit Union advisor for additional information about IRA certificate withdrawal penalties.
