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Let Us Help You Choose the Right Individual Retirement Account (IRA)

There are many types of IRAs and choosing the proper IRA is an important part of your financial plan. Working together, we will assess your needs and determine which IRA best meets your goals for optimal after-tax benefits. IRAs commonly used by our clients include:

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Rollover IRA


The Rollover IRA is designed primarily for individuals who are retiring or changing jobs. Once you’ve left your employer, you can make arrangements to directly roll over the assets of your 401(k) plan into an IRA. Our experts can help you invest your retirement funds through personalized investment management.

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Traditional IRA


With a Traditional IRA, your contributions and earnings are tax-deferred until withdrawal and contributions may be deductible.

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Roth IRA


Roth IRAs are similar to Traditional IRAs, except your contributions come from after-tax earnings and are tax-free when withdrawn.

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Inherited IRA


An Inherited IRA is designed to pay its proceeds to a non-spousal beneficiary by the end of the fifth year after the death of the IRA owner — or over the life of the designated beneficiary.

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Spousal IRA


A Spousal IRA can be set up by a married person in the name of his or her spouse who may have no earned income of their own.

IRA Savings and IRA CD Rates

Term Interest Rate APY*
6 Month 3.92% 4.00%
9 Month 3.92% 4.00%
12 Month 3.92% 4.00%
18 Month 3.68% 3.75%
24 Month 3.44% 3.50%
36 Month 2.86% 2.90%
48 Month 2.86% 2.90%
60 Month 2.86% 2.90%
IRA Savings* 0.40% 0.40%

More rates available. Call for details.

Minimum Balance APY*
$0 - $1,499.99 0.05%
$1,500 - $4,999.99 0.12%
$5,000 - $14,999.99 0.16%
$15,000 - $39,999.99 0.30%
$40,000 and above 0.40%

IRA Savings and IRA CDs Facts & Fees

Know all there is to know about our IRA Account—we’ve laid out all the facts and fees associated with it so you know exactly what you’re getting when you sign up.

Facts
Early Withdrawal Penalties: If you cash the CD out earlier than the term limit you agreed to, you’ll incur a penalty fee
Fee


 
CD Term Less than 12 months
(3 month CD, 6 month CD, 9 month CD)
90 days simple interest on the amount withdrawn
CD Term 13 - 35 months
(13 month CD, 24 month CD, 30 month CD)
180 days simple interest on the amount withdrawn
CD Term 36- 48 months
(36 month CD, 48 month CD)
180 days simple interest on the amount withdrawn
CD Term 49 - 83 months
(60 month CD)
180 days simple interest on the amount withdrawn
CD Term 84 months or greater
(84 month CD, 120 month CD)
180 days simple interest on the amount withdrawn

Account Services Fee
Cashier’s Check Fee (customers only)
A check that’s guaranteed by our bank
$25.00

Wire Transfers
Another way to send money from one account to another
Fee
 
Wire Transfer Fee (incoming, domestic) $0.00
Wire Transfer Fee (outgoing, domestic) $25.00
Wire Transfer Fee (incoming, international) $0.00
Wire Transfer Fee (outgoing, international) $35.00

Roth & Traditional IRA CDs

Lock in a competitive rate today and enjoy predictable growth for a secure future. While both Roth and Traditional IRAs are excellent investments to help you save for retirement each has different advantages and requirements.

Key Questions Roth IRA Traditional IRA
What are the key advantages? A Roth IRA is funded with your after-tax dollars but your earnings and withdrawals are tax free. This can translate to big tax savings in the future. Contributions to a Traditional IRA are tax deductible up to certain income limits. You may pay less in taxes in the years you contribute but will pay tax when you start making withdrawals.
What are the key advantages? This is a good option for those who expect to have a higher tax rate when they begin making withdrawals vs. when they contribute. This is a good option for those who expect to have a lower tax rate when they begin making withdrawals vs. when they contribute.
How much can I contribute? Up to $5,500 of earned income plus an additional $1,000 starting at age 50. This amount is the total allowable contribution you can make to both Traditional and Roth IRA plans. Up to $5,500 of earned income plus an additional $1,000 starting at age 50. This amount is the total allowable contribution you can make to both Traditional and Roth IRA plans.
How much can I contribute? If you have taxable earned income, you can participate. There are limits on how much you can contribute based on your income and tax filing status. If you have taxable earned income, you can participate up to the age of 70½. There are income limits for tax-deductible contributions.
When can I start making withdrawals? You can withdraw your contributions without penalty at any time. You can begin making penalty-free withdrawals of earnings if you are at age 59½ and if your account has been open for at least 5 years. You can begin making penalty-free withdrawals at age 59½ and you must begin taking distributions by age 70½.

IRA Savings & IRA CDs FAQs

IRA Account

How much do I need to open this account?

The minimum opening deposit for an IRA CD is $1500. The minimum opening deposit for an IRA Savings is $25.

How is interest calculated on my IRA CD?

The interest for our IRA CDs is earned daily and credited to your account monthly and at maturity.

How is interest calculated on my IRA Savings?

The interest for our Savings IRA is accured compounded daily and posted to your IRA monthly.

Other

How secure is my online account?

By banking through AAA, your account is safe—it’s our top priority. We use state-of-the-art technology to ensure the safety of your account information 24/7.

Is your bank FDIC insured?

Yes. Our bank is FDIC insured under our legal name, Auto Club Trust, Federal Savings Bank.

Do I have to be a AAA member to open an account?

Being a AAA member is not required to open an account with us.

* Annual Percentage Yield (APY) is accurate as of 1/31/2025. Interest rates may change at any time without prior notice. Interest rates are fixed until initial maturity after the account is opened. $250,000 maximum opening deposit when account is opened online. After online opening deposit is verified, you may deposit additional funds to your account. $500,000 maximum balance. A $1,500 minimum deposit to open the account and obtain the APY is required. A penalty may be imposed for early withdrawal. Fees may reduce earnings on the account. Personal accounts only. Products are offered by Auto Club Trust, FSB, Equal Credit Opportunity Lender.