Share Certificates and IRA Share Certificates
Louviers FCU offers regular Share Certificates as well as tax-beneficial IRA Share Certificates to be used in a Traditional IRA or Roth IRA. Both types of Share Certificates require a minimum deposit of $500.00. There are 12‚ 18‚ 24‚ 30, 48, and 60-month terms available for our regular Share Certificates and 18‚ 24‚ 30, 48, and 60-month terms available for our IRA Share Certificates. Dividends are compounded monthly on all Share Certificates.
Premature withdrawal of funds from either type of Share Certificate will result in a penalty of 90 or 180 days of dividends, earned or not, to be determined by the credit union. Exceptions may apply to IRA certificates.
Premature withdrawal of funds from an IRA Share Certificate may result in additional tax penalties.
When a regular Share Certificate term has ended‚ the money can be withdrawn entirely‚ moved into another account, or rolled over into another Share Certificate. When an IRA Share Certificate term has ended‚ the money must be rolled over to another IRA Share Certificate or transferred into another type of retirement account in order to avoid tax penalties.
Additional Resources
*All deposits are insured up to $250,000.00 by the National Credit Union Administration. Rates and information are subject to change at any time.