Individual Retirement Account (IRA)

Happy Older Couple

An Individual Retirement Account (IRA) can provide a tax-deferred or tax-free way of savings for retirement.

Traditional IRA

With a Traditional IRA, you can defer taxes for the dividends on your contributions until they are withdrawn. Also, certain contributions are tax deductible in the tax year for which you make them.

You are eligible to establish a traditional IRA if you are younger than age 70 ½ for the entire tax year and you or your spouse currently have compensation.

For more information about eligibility and contribution limits for a traditional IRA, please visit any Goldenwest branch or contact our member support center.

Roth IRA

The Roth IRA allows only nondeductible contributions and features tax-free withdrawals for certain distributions reasons after a five year holding period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, if you expect to be in a higher tax bracket when you retire, you may benefit more from a Roth IRA than from a traditional IRA.

You are eligible to establish a Roth IRA if you or your spouse currently have compensation and your modified adjusted gross income (MAGI) does not exceed certain prescribed limits.

For more information about eligibility and contribution limits for a Roth IRA, please visit any Goldenwest branch or contact our member support center.

Regular and IRA Certificate Rates

1 Month**
0.15%
Minimum Amount: $5,000.00
0.15% APY
3 Month
0.20%
Minimum Amount: $500.00
0.20% APY
6 Month
0.25%
Minimum Amount: $500.00
0.25% APY
9 Month
0.35%
Minimum Amount: $500.00
0.35% APY
12 Month
0.45%
Minimum Amount: $500.00
0.45% APY
12 Month Flex (regular only)
0.35%
Minimum Amount: $50.00
0.35% APY
18 Month
0.50%
Minimum Amount: $500.00
0.50% APY
18 Month Variable*
0.03%
Minimum Amount: $50.00
0.03% APY
24 Month
0.60%
Minimum Amount: $500.00
0.60% APY
30 Month
0.75%
Minimum Amount: $500.00
0.75% APY
36 Month
0.90%
Minimum Amount: $500.00
0.90% APY
48 Month
1.14%
Minimum Amount: $500.00
1.15% APY
60 Month
1.83%
Minimum Amount: $500.00
1.85% APY
Rates and terms are accurate as of July 1, 2014 and are subject to change.
Dividend on savings accounts and certificates paid monthly.
APY = Annual Percentage Yield
Early withdrawal penalties apply. Fees and penalties will reduce earnings or principal. Rates are subject to change at any time.
If you opt for the bump option, the original certificate rate will be 0.15% lower than stated.
*Variable Rates: Based on the average of the 91-day Treasury Bill, calculated the last Tuesday of each quarter.
**Rate quoted is valid if certificate holder has a Goldenwest checking account. Otherwise, the rate is 0.15% for a 1 month certificate.
Penalty for Early Withdrawal: The penalty is calculated as a forfeiture of part of the dividend that has been or would be earned on the account and may reduce principal.
The penalty is as follows:
Certificate Term: Penalty equal to:
0 - 1 months 30 days dividends
1 - 12 months 60 days dividends
12+ months 180 days dividends