If you're looking for long term investments, consider LCU's Certificates of Deposit and Individual Retirement Accounts.
Term Share Certificates
- Available in terms from 3 months to 5 years
- Competitive dividend rates
- $1,000 minimum to open
Individual Retirement Accounts (IRAs) Traditional IRA Roth IRA Coverdell Education Savings Account (formerly known as Education IRA)
An IRA is a tax-deferred retirement savings account that allows individuals to contribute a limited amount per year. A traditional IRA may allow individuals, depending on their incomes and participation in employer-sponsored retirement plans, to deduct part or all of their contributions on their tax returns. Withdrawals made after age 59½ are taxed at the current tax rate. In contrast, Roth IRAs allow individuals to withdraw earnings tax free, provided they have owned the account for five years and are at least age 59½. Contributions are made with after-tax dollars.
Fees may reduce earnings on accounts. Rates and Annual Percentage Yields (APYs) on transaction accounts are variable and may change at any time. Early withdrawal penalties will be imposed on term certificates and IRAs.