Traditional IRA Certificate
If you prefer structure, a Traditional Certificate IRA offers a clear path for retirement savings. With fixed terms and predictable dividends, you can plan ahead with confidence. It’s a disciplined approach that supports steady financial progress over time. IRA accounts can be opened at a Financial Health Center or by calling 800-688-7228.
What sets our Traditional IRA Certificate account apart
This account might be right for you if you value predictability and are comfortable setting funds aside for a fixed term. Compared to money fund IRAs, it offers more stability but less flexibility. Earn now, pay later. Contributions grow on a tax-deferred basis while you earn dividends like a certificate with fixed terms of six months to 10 years.
- Open with $500 minimum deposit
- Contributions may be tax deductible
- Earnings are tax-deferred, meaning withdrawals in retirement are taxed at ordinary income tax rates
- Dividends paid monthly
- Automatic renewal at maturity
- No age limit on contributions for individuals who have earned income and are eligible
- Penalty-free early withdrawal options for first-time home purchase or college expenses
- Funds federally insured up to $250,000
Commit to your future with steady progress
Visit a Financial Health Center to open a Traditional IRA Certificate and create a clear path toward your retirement goals. With structure and consistency, you can build financial stability over time.
Dividends and Withdrawals
Fixed terms, higher dividends
Opening a Traditional IRA Certificate is also a contract between Credit Human and a member. It gives you an alternative way to invest retirement funds for a specific period of time in order to earn higher dividends and a better annual percentage yield (APY). Open your Credit Human Traditional IRA Certificate with an initial purchase amount that works for you. Earn monthly dividends and an APY over a term as short as three months or as long as 10 years—or choose a fixed term of just one year. Dividends and APY are paid monthly at a rate corresponding to your purchase amount and term. Account holders must have earned income or alimony in order to open and make annual contributions to a Traditional IRA Certificate, and this account may not be used as collateral for any type of loan.
The dividend rate and corresponding APY for the contract period will be determined based on the purchase amount and the contract term. If choosing a fixed, one-year term, dividend rate will not change during the term. Dividends are paid monthly and calculated using the daily balance method. A penalty will be imposed for early withdrawal, including substantial penalties on tax-deferred instruments. Fees could reduce earnings.
Options for withdrawal
With a Traditional IRA, you must begin taking required minimum distributions (RMDs) when you turn 73. These withdrawals are taxed at ordinary income tax rates at the time of withdrawal. Early withdrawals are subject to penalty. Up to $10,000 may be withdrawn without the normal early withdrawal penalty to pay for qualified first-time home buyer or college expenses. At age 59 1/2, additional qualified early distributions may be allowed.
Substantial penalties for early withdrawal will apply except for those specifically permitted under IRS Regulations. If you wish to make a withdrawal, check to determine whether you may do so penalty-free, or if you will face an early withdrawal penalty.
Get help from Credit Human
Credit Human deposit accounts are federally insured through the NCUA
As a Credit Human member, your deposits—checking, savings, certificates and IRAs—are federally insured up to $250,000 by National Credit Union Administration (NCUA). Similar to deposit insurance coverage offered by the FDIC for banks, the NCUA operates the National Credit Union Share Insurance Fund (NCUSIF) to protect accounts at federally insured credit unions.
Account type and ownership factor into coverage amounts. Read up on NCUA Share Insurance below to maximize your coverage, estimate your coverage online or call our Member Service Center for further information on your insured funds.
