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Lifetime IRA
IRA Savings
Account
IRA Share
Certificates
IRA Investments
Sun Federal offers a variety of IRA options.
Compare the options by learning about the key differences
among
Traditional,
Roth and
Coverdell Education Savings Accounts. For more details on
the available IRAs, please click on the specific IRA name
listed above.
[PDF documents]
Lifetime
IRA
The Lifetime IRA is a new, limited time, product built upon a strong foundation of security, earnings and convenience
for new money (rollovers and lump sum distributions). It has members’ best interest in mind when it comes to retirement protection.
Security
- 10-year fixed term
- Up to $500,000 deposit insurance protects your retirement dollars
- Guaranteed minimum return
Earnings
- $50,000 minimum investment ($500,000 maximum)
- 4% APY (minimum), re-prices to market conditions every two years
Convenience
- Up to 5% of the principal can be withdrawn over the course of a year (each year) without penalty
- Dividends can be taken as they are earned or left on deposit in the Lifetime IRA, just like any other Sun Federal certificate
- Available for rollovers or lump sum distributions
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IRA Savings Account
Members have the choice of placing IRA dollars in an IRA
Savings Account to help accumulate funds for retirement.
Dividends are compounded and posted monthly on the average
daily balance, at the same rate as the regular
Share Savings
Account. There are no monthly or quarterly service
charges. IRA
Share Certificates are available for members interested in
locking in for a higher yield.
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IRA Share Certificates
Members have the choice of placing IRA dollars in an IRA Share
Certificate to help accumulate funds for retirement. Available
in terms of 3, 6, 12, 18, 24, 30, 42, and 54 months, Sun
Federal's IRA Certificates offer higher yields. Dividend rates
are fixed throughout the term of the certificate and are
compounded monthly. Click here for the Rate & Fee Schedule for complete
details.
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Individual Retirement Account Investments
Funds can be invested in a Member-Directed IRA. The
Member-Directed IRA allows greater flexibility to invest in a
wide variety of mutual funds, stocks or bonds. Sun Federal
Credit Union offers two programs to meet members needs:
Members choose the investments that are
right for them.
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