Certificates of Deposit (CDs)

With as little as $500, members can invest in a Option 1 certificate.

• 6 to 72 month maturities
• Very competitive interest rates
• Choose between monthly or quarterly interest
• $500 minimum balance
• IRA Certificates available with the same great rates

Individual Retirement Accounts (IRAs)

Invest now for a comfortable retirement. Option 1 offers many IRA options, including the popular Roth IRA, with no administrative fees and no minimum balance required. Many members may still be eligible to deduct their IRA contributions from their taxable income. For them, IRAs are great investments. For those who may not take the deduction, an IRA still remains one of the best methods to save for retirement. Because IRA earnings are usually sheltered from taxes, IRAs grow faster than ordinary savings accounts.

• No minimum balance is required
• No monthly fees, but annual maintenance fee of $7.25 applies
• Contributions may be made in “lump sums” or by regular deposits throughout the year
• Interest is calculated daily and paid quarterly on regular IRAs

Traditional IRA

An account that allows members to defer taxes on earnings until they are withdrawn. Also, certain contributions may be tax deductible in the year they are made.

IRA Certificate of Deposit

Enjoy the benefits of an IRA along with the great rates of a Certificate. IRA Certificates are available with a minimum deposit of $1,000. Upon certificate maturity, the member may withdraw the funds and redeposit into another authorized IRA within 60 days with no IRS penalty.

Roth IRA

This IRA is not tax deductible, but offers tax-free withdrawals for certain reasons after a five-year holding period. Another new feature of this account is that funds may be withdrawn penalty-free for qualified education expenses and for first time home purchases. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, people who expect to be in a higher tax bracket when they retire may benefit more from these accounts than from a traditional IRA.

Members® Financial Services

A unique members-only program that offers one-on-one financial management assistance with no cost or obligation. Many investment products are available, including Mutual Funds, IRA/TSAa, Annuities and Pension Plans. Get more information on Members Financial Services.