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Quiz
Which IRA is right for you?
- What kind of tax benefit would you prefer?
- I’d like to avoid paying taxes on the contributions I make now.
- A Traditional IRA may be the best choice for you.
- I’d rather avoid taxes when I make withdrawals from my retirement account.
- A Roth IRA may be the best choice for you.
- I’m not really sure.
- Do you expect your annual income to keep growing regularly?
- Yes
- A Roth IRA may be the best choice for you.
- No
- A Traditional IRA may be the best choice for you.
- Yes
- Do you expect your annual income to keep growing regularly?
- I’d like to avoid paying taxes on the contributions I make now.
What Is It?
Traditional IRA from Yolo Federal
A Traditional IRA lets you make tax-free contributions to your retirement account, which means you can save more. As a local, family-centered organization, we’re the perfect choice to watch over you and your money, no matter how close or far you are from retirement.
Why Yolo Federal
We're with you on this journey
- Contributions are tax-deductible (Consult a tax advisor)
- Open an account at any time
- Dividends are compounded daily and paid monthly
- Achieve Learning: Retirement
Rates & Fees
| Minimum Daily Balance | Dividend Rate | Annual Percentage Yield |
|---|---|---|
| $0 | 0.03% | 0.03% |
| $100 | 0.03% | 0.03% |
| $10,000 | 0.03% | 0.03% |
| $50,000 | 0.03% | 0.03% |
| $100,000 | 0.03% | 0.03% |
Effective Date: November 1, 2024. Last Dividend Declaration Date: October 31, 2024. Rates subject to change at any time.
Dividends paid from current income and available earnings after required transfer to reserves at the end of the dividend period. Rates are subject to change without notice as determined by the Credit Union’s Board of Directors. Fees could reduce earnings on accounts. Some restrictions may apply.
|
Minimum Deposit Term in months |
$500 APY* |
$10,000 APY* |
$50,000 APY* |
$100,000 APY* |
|---|---|---|---|---|
| 12-23 | 1.30% | 1.30% | 1.30% | 1.30% |
| 24-35 | 1.35% | 1.35% | 1.35% | 1.35% |
| 36-47 | 1.80% | 1.80% | 1.80% | 1.80% |
| 48-59 | 2.30% | 2.30% | 2.30% | 2.30% |
| 60 | 2.80% | 2.80% | 2.80% | 2.80% |
*APY= Annual Percentage Yield.
Effective Date: November 1, 2024. Last Dividend Declaration Date: October 31, 2024. Rates subject to change at any time.
Dividends paid from current income and available earnings after required transfer to reserves at the end of the dividend period. Rates are subject to change without notice as determined by the Credit Union’s Board of Directors. Fees could reduce earnings on accounts. Dividends earned will be compounded only if they remain on deposit in the certificate. Penalty imposed for early withdrawal. Some restrictions may apply.
FAQs
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Is this account insured?
Yes. Our IRAs are insured up to $250,000 through the National Credit Union Administration.
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What is the difference between a traditional IRA and a Roth IRA?
Traditional IRA contributions are tax-deductible, but you will need to pay taxes on withdrawals during retirement. Roth IRAs do not provide tax breaks for contributions, but earnings and withdrawals during retirement are generally tax-free.
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What are the contribution limits?
Deposit up to $5,500 per year ($6,500 if you’re age 50 or older), or your taxable compensation for the year, if your compensation was less than this dollar limit.
The contribution limit does not apply to:
Don't see the answer to your question?
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Disclosures
Please check with you tax advisor on your specific eligibility.
By clicking on any external links, you are aware that you are leaving Yolo FCU’s website. Yolo FCU does not guarantee the accuracy, security or failure of products/services of third party sites. We encourage you to review the privacy and security disclosures on all websites you visit.
Programs (including but not limited to fees, rates, and features) are subject to change without notice. Fees may reduce earnings.