Individual Retirement Accounts
Gulf Winds currently offers two different ways to invest for your retirement with Individual Retirement Accounts (IRA): a Share IRA and a Certificate of Deposit IRA.
- The Share IRA has no minimum balance or term requirement.
- The Certificate of Deposit IRA requires a minimum balance of $500. The interest rate is fixed at purchase and will remain in effect until maturity date.
Gulf Winds offers two types of IRAs—Traditional IRA and Roth IRA. Determine which of these may be best for you and then stop in or call about opening an IRA for your future investment needs.
Traditional IRA
Choose a Traditional IRA if you want the tax deduction right now. Traditional IRAs also make sense if you anticipate paying taxes at a significantly lower rate in retirement.
- Available in a savings or certificate account
- Tax-deductible (consult your tax advisor)
- Federally insured by the NCUA up to $250,000
Roth IRA
Choose a Roth IRA if you don't need the tax break right now and would like a more flexible investment.
- Available in a savings or certificate account
- You do not have to take mandatory distributions at age 70½
- Tax free withdrawal if you are over 59½
- Federally insured by the NCUA up to $250,000
Start saving for your retirement today!
Call us at 1.800.650.6328 or visit one of our branch locations.
IRA Share Savings Account
| Account | Dividend Rate | APY | Compound Frequency | Minimum Deposit |
|---|---|---|---|---|
| IRA Share Savings | 0.35% | 0.35% | Monthly | $0 |
Rates are subject to change after the account is opened.
APY=Annual Percentage Yield
Fees may reduce earnings.
| Term | Dividend Rate | APY | Compound Frequency | Minimum Deposit |
|---|---|---|---|---|
| 6 Months IRA | 0.896% | 0.90% | Monthly | $500 |
| 12 Month IRA | 1.342% | 1.35% | Monthly | $500 |
| 18 Month IRA | 1.490% | 1.50% | Monthly | $500 |
| 24 Month IRA | 1.687% | 1.70% | Monthly | $500 |
| 36 Month IRA | 1.982% | 2.00% | Monthly | $500 |
| 48 Month IRA | 2.276% | 2.30% | Monthly | $500 |
| 60 Month IRA | 2.521% | 2.55% | Monthly | $500 |
Rates as of . APY=Annual Percentage Yield
Early withdrawal penalties may apply.
This rate sheet is incorporated into the Account Agreements and Disclosures.
The rate and APY stated for Term Share Accounts is the rate that was offered within the most recent seven calendar days.
Rates and yields are subject to change at any time.
APY assumes interest remains on deposit until maturity.