NOTICE
1. Learn what Democracy FCU is doing to help members and the community: COVID-19 Resource Center.
2. CLICK HERE to schedule your Alexandria or Silver Hill branch visit! Please visit our COVID-19 Resource Center for branch procedures.
IRA Savings
Today is a great day to start saving for your retirement. And we can help you along the path to a secure financial future. To get more information or to open an IRA, call us or stop by a branch.
Individual Retirement Accounts
IRA Savings Accounts
- Tax deferred earnings on Traditional IRAs; tax-free earnings and withdrawals on Roth accounts
- IRA accounts are insured separately up to $250,000 per account, in addition to the NCUA insurance available on other Democracy FCU accounts
- To open an IRA call or stop by a branch.
Traditional, Roth IRA, Coverdell Education Savings & Variable Rate Share
- No minimum deposit required
- No minimum balance required
Individual Retirement Account Rates
| Account Type | Dividend Rate | APY1 | Term | Minimum Deposit | Minimum Add'l Deposit | Minimum Balance | Notes |
|---|---|---|---|---|---|---|---|
| Variable Rate Share | |||||||
| Traditional, Roth IRA, or Coverdell Education Savings | 0.50% | 0.50% | n/a | None | None | None | Balances of less than $3,500 |
| Traditional, Roth IRA, or Coverdell Education Savings | 0.75% | 0.75% | n/a | None | None | None | Balances of $3,500 and over |
| IRA Certificate | |||||||
| Traditional or Roth | 1.50% | 1.51% | 12 months | $500 | $25 | $500 | |
| Traditional or Roth | 1.80% | 1.82% | 36 months | $2,000 | $25 | $2,000 | |
| Traditional or Roth | 2.00% | 2.02% | 60 months | $2,500 | $25 | $2,500 | |
| Certificate | |||||||
| Coverdell Education Savings | 1.00% | 1.00% | 12 months | $500 | $25 | $500 | |
| Coverdell Education Savings | 1.50% | 1.51% | 36 months | $500 | $25 | $500 | |
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