Certificates, IRA & HSA

CertificatesBack to Menu

Typically, our certificates earn the highest interest rates of all of our savings products and are an excellent way to watch your money grow. We offer an investment minimum of $500 to start.

Inquire about our great rates on certificates ranging in terms from 91 days to 5 years.

Build a CD ladder for your future.  Click here to access our CD Ladder Calculator.

IRA  AccountsBack to Menu

It’s never too early to start saving for retirement.  The sooner you begin, the more comfortable you’ll be at retirement! Use this convenient Retirement Planner to manage your goals.

The Traditional IRA is a proven savings vehicle that benefits you now...and later.  Contributions may be tax deductible in the current year, while taxes on earnings are deferred until the funds are withdrawn.  Non-working spouses may qualify for their own account.  Check with your tax advisor for details. 

A Roth IRA permits you to withdraw earnings tax-free at any time if you are at least 59 ½, and have held the account for at least 5 years.  Tax-free withdrawals are allowed in certain circumstances, such as purchasing a first home.  You may continue to make contributions after age 70 ½ if you have earned income equal to the amount you contribute.  Contributions are not tax deductible.

A Coverdell Education IRA helps families save for college tuition and related expenses.  Parents, grandparents, relatives, and friends can deposit up to $2,000 per year for each child under age 18.  Contributions are not tax deductible, but earnings are tax-free and may be withdrawn for post-secondary education expenses before the student reaches age 30.  Excess funds may be used for another child in the family without being taxed. 

Payroll IRA SavingsBack to Menu

Set up your IRA savings today and deposit each pay period by payroll deduction. Having a hard time getting started? We'll start an IRA account with just $5 and you can deposit as little as $5 per pay period.  If you are just getting started then save your money in an IRA savings account, and when you have $1000 roll it over into a certificate to begin earning even more. 

IRA CertificatesBack to Menu

Have a lump sum to invest from your retirement plan? Then make your annual contribution or rollover, and invest in an IRA Certificate.  We have regular, Roth, and Educational IRA's available at the same great rates as our regular certificates.  Terms range from 1-5 years on IRA Certificates. 

For more information, contact a Financial Service Associate at the office nearest you, or call Kathy Christenson, Certified IRA Specialist, at 605-347-4527 for assistance.

Health Savings Account (HSA)Back to Menu

We are pleased to announce that with our new computer conversion to CU*Answers, we will be able to offer Health Savings Accounts in 2007. 

What is an HSA?  A Health Savings Account (HSA) is an account that
you can put money in to save for future medical expenses. There are certain advantages to putting money into these accounts, including favorable tax treatment. HSAs were signed into law by President Bush on December 8, 2003.

Who Can Have an HSA?  Any adult can contribute to an HSA if they:
• Have coverage under an HSA-qualified “high deductible health plan” (HDHP)
• Have no other first-dollar medical coverage (other types of insurance like specific injury insurance or accident, disability, dental care, vision care, or long term care insurance are permitted).
• Are not enrolled in Medicare.
• Cannot be claimed as a dependent on someone else’s tax return.

Contributions to your HSA can be made by you, your employer, or both. However, the total contributions are limited annually. If you make a contribution, you can deduct the contributions (even if you do not itemize deductions) when completing your federal income tax return.

Use this handy HSA Contribution Calculator to help you plan your investment.

Contributions to the account must stop once you are enrolled in Medicare. However, you can keep the money in your account and use it pay for medical expenses tax-free. For more information call Kathy Christenson, Certified IRA Specialist, at 605-347-4527 for assistance.

Insured FundsBack to Menu

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