Individual Retirement Account (IRA)

We know the future can seem intimidating, but anytime is a good time to start planning. An IRA account might be just the thing to help with your future. IRAs have traditionally been great investment tools. We offer both Traditional and Roth IRAs. For information about Traditional and Roth IRAs, please visit the IRS Website or contact your tax consultant.

Account Options:

Within one IRA at Peoples Choice Credit Union, you are able to open an IRA Share Account and/or one or multiple IRA Share Certificate Accounts.

Other Features/Benefits:

  • Traditional and Roth IRA options
  • No administration or setup fees
  • Flexibility of choosing maturity date from 12 to 60 months on the IRA Share Certificate account
  • Funds can be transferred to the IRA share account via It’sMe247 Mobile & Online Banking, CUTalk Telephone Services, or through a phone call or stopping by a credit union branch for flexibility and automatic transfers/payroll deductions are also available for your convenience
  • Pays competitive dividends that will help your money grow
  • Quarterly statements are provided to members giving peace of mind of account balance and transaction history

Coverdell ESA

Start saving now for your child’s education. The purpose of this account is to help members pay for their child’s elementary and secondary educational expenses that are qualified – tuition fees, books, supplies/equipment, and in some cases, room and board, and computers. The earnings grow tax-free if distributions are used for qualified education expenses. For information about Coverdell Education Savings Account,

please visit the IRS Website or contact your tax consultant.

Account Options:

Within one ESA at Peoples Choice Credit Union, you are able to open an ESA Share Account and/or one or multiple ESA Share Certificate Accounts

Other Features/Benefits:

  • No administration or setup fees
  • Flexibility of choosing maturity date from 12 to 60 months on the ESA Share Certificate account
  • Funds can be transferred to the ESA share account via It’sMe247 Mobile & Online Banking, CUTalk Telephone Services, or through a phone call or stopping by a credit union branch for flexibility and automatic transfers/payroll deductions are also available for your convenience
  • Pays competitive dividends that will help your money grow
  • Quarterly statements are provided to members giving peace of mind of account balance and transaction history

Funeral Trust Account

Help alleviate the burden of your final expenses by depositing funds in a funeral trust account. Have your funeral home director complete the paperwork with you, and then let Peoples Choice open the account.

Other Features/Benefits:

  • Ability to choose a secondary share or share certificate account to be titled as the funeral trust
  • Flexibility of choosing maturity date from 3 to 60 months on the funeral trust Share Certificate account
  • Funds can be transferred to the funeral trust (secondary) share account via It’sMe247 Mobile & Online Banking, CUTalk Telephone Services, or through a phone call or stopping by a credit union branch for flexibility and automatic transfers/payroll deductions are also available for your convenience
  • Quarterly statements are provided to members giving peace of mind of account balance and transaction history
  • It’sMe247 Mobile & Online Banking allows convenient review of account

Certificates

Certificates offer higher returns for your investment. The rate at the time of investment is locked in for the term of the certificate. Members can choose from a range of terms. Dividends are compounded and paid quarterly to the certificate account. A minimum deposit of $1,000.00 is required. The account will automatically renew at maturity, however, a grace period at the maturity date allows members to withdraw or redeposit funds. A penalty is assessed on withdrawals before maturity.

Savings Account

Savings Accounts allow you to get started with small contributions or making additional contributions to the account at any time. Dividends are compounded and paid quarterly to the account.

Contributions

Contributions can be made at any time into the accounts. Additional paperwork will be completed with each contribution so please plan ahead for extra time when making contributions. Smaller contributions can be made into a Share Account to continue to plan and achieve your retirement/education goals. Reallocating funds between the account options gives you the flexibility to know and control the amount of dividends that your type of account can earn.