Ready to earn more? Call 800-456-3000 or visit your local Arkansas Federal branch to open a certificate today!
|18 Months (with required active checking account)||2.35%1|
|3 -5 Months||0.76%|
|6 -11 Months||0.94%|
|12 - 23 Months||1.32%|
|24 - 35 Months||1.65%|
|36 - 47 Months||1.86%|
|48 - 59 Months||2.06%|
|60 -71 Months||2.12%|
|72 - 83 Months||2.23%|
|3 - 5 Months||0.91%|
|6 -11 Months||1.09%|
|12 - 23 Months||1.47%|
|24 - 35 Months||1.80%|
|36 - 47 Months||2.01%|
|48 - 59 Months||2.21%|
|60 - 71 Months||2.27%|
|72 - 83 Months||2.38%|
1APY = Annual Percentage Yield. All certificates are federally insured by NCUA. 18-Month Share Certificate: To qualify for 2.35% APY, you must have an active checking or health savings account. Active checking/health savings account is defined as having a direct deposit of $500 or greater to the checking/health savings account, or 10+ transactions per month in the respective checking/health savings. 59-Month Share Certificate: To qualify for 3.00%, you must open a new account with funds deposited from accounts outside of Arkansas Federal Credit Union. This rate does not apply to the renewal of an existing account or the use of any other funds already on deposit with Arkansas Federal Credit Union. Refer to the rate schedule for full details. Offer and rates are subject to change without notice. Early withdrawal will result in decreased APY. Early withdrawal penalties may apply. $1,000 minimum deposit to open a share certificate account.
2APY = Annual Percentage Yield. All certificates are federally insured by NCUA. Refer to the fee schedule for full details. Offer and rates are subject to change without notice. Early withdrawal will result in decreased APY. Early withdrawal penalties may apply. $100,000 minimum deposit to open a jumbo share certificate account.
Traditional Individual Retirement Account
A tax-deferred retirement savings account funded with before-tax earnings, which means that you'll save money on your taxes as you fund the account during your working years, and then pay taxes, ideally at a lower tax rate, on the funds you withdraw after retirement.
A Traditional IRA can be opened by any individual who earns income or receives alimony who is under the age of 70 1/2. The IRS establishes annual limits on IRA contribution amounts that can changes from year to year. All taxpayers age 50 and above will be permitted to make "catch up" contributions of $1,000 to their IRAs. These "catch up" contribution payments may be deductible in a traditional IRA or made to a Roth IRA, if the Manual Adjusted Gross Income (MAGI) limits for regular contributions for the year are met.
Withdrawals (distributions) from a Traditional IRA are permitted any time after age 59 1/2, but must start by April 1st following the year in which the participant reaches the age of 70 1/2. After age 59 1/2, you may make withdrawals even if you continue to earn income. It is not necessary to be retired in order to make withdrawals.
There could be a 10% penalty for withdrawing all or any part of the earnings from a Traditional IRA. Taxable distributions are not subject to the 10% early withdrawal penalty if: the individual is 59 1/2; has died; becomes totally disabled; or is taking equal periodic payments over his or her life expectancy for at least five years or until age 59 1/2, whichever comes later; for college expenses; for a first time home purchase up to $10,000; for certain medical expenses; or certain uses.
Roth Individual Retirement Account
Different from traditional IRAs, a Roth IRA is funded with after-tax earnings, so your money grows tax- free. Since you've already paid taxes on the earnings used to fund your Roth IRA, your savings are not taxed when you withdraw your money after retirement.
A Roth IRA can be opened by anyone with earned income, regardless of age, when certain adjusted gross income requirements are met. The IRS establishes annual limits on IRA contribution amounts that can change from year to year. IRS Publication 590 at www.irs.gov will provide detailed information regarding specific tax years.
With a Roth IRA, penalty-free and tax-free withdrawals of your contributions are permitted at any time (until total distributions from all Roth IRAs exceed the contribution amount - no distribution is subject to either taxation or penalty). Tax-free withdrawals of earnings are permitted if you satisfy two conditions. First, the plan must be open a minimum of five successive tax years. Second, the withdrawal must be made after the occurrence of one of the following events: after age 59 1/2, death, total disability, or as a qualified first-time homebuyer (up to $10,000). There is no mandatory age requirement for distributions and funds may remain in the account during the account owner's lifetime.
There could be a 10% penalty for withdrawing all or any part of the earnings from a Roth IRA. Taxable distributions are not subject to the 10% early withdrawal penalty if: it is made after the five year period beginning with the first taxable year for which a contribution was made to a Roth IRA set up for your benefit and, is made on or after the individual is 59 1/2; becomes totally disabled; has died; for college expenses; for a first time home purchase up to $10,000; for certain medical expenses; or certain uses.
Your savings at Arkansas Federal Credit Union are federally insured to a least $250,000 and backed by the full faith and credit of the United States Government by the National Credit Union Administration, an agency of the federal government.