CERTIFICATES AND IRAS
Which One Will Work Better For Me?
It’s never too early to plan ahead. When you are saving money for retirement, Caro offers smart financial solutions to help you achieve your goals.
For a limited time, members can earn 2.00% APY* on 30-Month IRA & Non-IRA Certificates. Plant your funds in fertile soil and watch them grow into something great.
*APY = Annual Percentage Yield. New money only. Offer valid for IRA or Non-IRA Share Certificates of new deposits. Limited time offer for the first two million dollars total in new certificates. Credit union reserves the right to change or end promotion at any time. See credit union for details.
A Share Certificate pays a higher rate than a regular Savings Account and is issued for a term of 3 months to 30 months. This is a sound way to save as all certificates are safe and secure and insured by NCUA Insurance.
Individual Retirement Accounts (IRAs) allow you to purchase investments with the big plus of not having to pay income tax on that investment as long as it remains untouched in the IRA.
A Share IRA may be opened for as little as $25, giving you the option of making additional deposits through the convenience of payroll deductions. IRA accounts can be opened for Traditional, Educational, and IRAs.
Young Savers Share Certificate
Caro also offers a Young Saver’s Certificate which offers traditional savings for your child, allowing you to set up a certificate in the child’s name. Feel free to add to the certificate in increments of $100, which can help pay for education down the road.
Your Caro representative or tax consultant can give you the additional benefits of Share Certificates and IRA accounts.