Certificates & IRAs

An excellent way to save for the future — short term or long run — are Certificate Accounts, Annuity Accounts and IRAs. Let the pros at Parsons Federal Credit Union help you create a strategy that’s just right for you and your family.

Certificate Accounts

When it comes to savings, we’re flexible if you are! PFCU’s Share Term Certificates are designed to meet a variety of financial needs: short term or long, large sum or small, you can take advantage of attractive higher premium dividend rates in exchange for a guaranteed term of investment. We’ve got great choices, whatever your goals, featuring:

  • Terms from 3 months to 5 years
  • Fixed and variable rate Certificate Accounts available
  • Dividends posted quarterly
  • Minimum balances vary for each term account

Click here for current yields on PFCU Certificate Accounts.

How much will my certificate be at maturity?

Annuity Accounts

Already retired (lucky you!), or hoping to be soon? Our Fixed-Term Fixed Rate Annuity Share Account is a super-smart choice for supplementing your monthly income!

Unlike annuities offered by insurance companies, this account will never lose value and is guaranteed to pay more than 100% of your original deposit! Also, unlike many others, it pays 100% of any remaining balance in full to your beneficiaries upon death.

To open one of these valuable accounts or learn more, please contact us at 800-765-4527 or visit your local branch.

Click here for Current Yields

Click here for our Fixed-Term Fixed Rate Annuity Share Certificate Calculator

IRAs

Wary of Uncle Sam? Meet Cousin IRA! PFCU offers both Traditional and Roth IRA options for your retirement. The Traditional IRA is your basic account that allows you the flexibility of making regular and ongoing contributions. Contributions to your IRA may be deductible on your income taxes and your account earnings are tax deferred (Always consult with a qualified tax or investment advisor for tax deductibility qualifications) .

Traditional and Roth IRA Characteristics

Traditional IRA

  • Contributions often are tax-deductible
  • Earnings grow tax-deferred
  • Distributions generally are taxable
  • Distributions before you reach age 59½ are subject to penalty unless you meet an early distribution penalty exception.
  • Required minimum distributions must begin at age 70½

Roth IRA

  • Contributions are not deductible
  • Earnings grow tax-deferred
  • Contributions generally can be distributed tax-free at any time
  • Earning can be distributed tax-free five (5) years after opening the account, or when you have reached age 59½. Tax-free distributions may also be taken if the account owner dies or becomes disabled, or to pay first-time home buyer expense, or for supporting the account owners education expenses
  • Distributions are not required until after the Roth IRA holder dies

Traditional and Roth IRA contribution limits are:

  • Tax Year 2012 - $5,000.
  • Discounts at iHOP aren’t the only advantages of getting older!  Individuals 50 or more can make an additional $1,000 "catch-up" contribution per year!

Don’t need your retirement funds for a while? Lock them up as certificates for a higher rate, as all certificate rates apply to IRA Accounts as well!

Contact our IRA expert extraordinare at 800-765-4527 to discuss your IRA options.

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