INDIVIDUAL RETIREMENT ACCOUNTS (IRAs) are still a wise investment for most. We shall provide IRAs to qualified members. IBEW Community Federal Credit Union is recognized as Trustee administered by CUNA Service Group, Inc.
A minimum balance of $100 is required in an IRA Account. Members shall be offered an IRA account to accumulate tax-deferred savings with member-selected options as follows:
- Lump Sum Deposit
- Rollover Deposits
- Regular Deposits
An annual fee of $10 will be deducted from each IRA account. This fee is charged by CUNA Service Group, Inc. and is passed on to the member. Interest on IRA accounts will be paid monthly on a day-in day-out basis and will be posted on the last day of each month as earned for that month. Dividends will not be earned during the month that the account is closed. No penalty will be charged for withdrawing from an IRA account except the penalty enforced by IRS.