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Florida Credit Union IRA CD Rates 2019

If you have your savings dollars in a big bank or a bank with low savings rates, then you are losing money. We've found FDIC insured banks that will pay you more. Take a few minutes to explore the options below and see how you can boost your savings by more than 6X the national average rate. There is competition for your money. Take advantage of it!

FL - November 20, 2019

Advertiser Disclosure
Credit UnionS APY Months MIN Miles?
Melrose
Restrictions
2.42% - $5,000 -
First Florida
Restrictions
2.39% 22 $1,000 -
Space Coast
Restrictions
2.37% - $500 -
American Airlines
Restrictions
2.33% - $1,000 -
First Florida
Restrictions
2.29% 13 $50,000 -
Power Financial
Restrictions
2.27% 30 $2,500 -
Community
Restrictions
2.20% - $1,000 -
Power Financial
Restrictions
2.15% 65 $2,500 -
Self-help
Restrictions
2.12% - $500 -
Chartway
Restrictions
2.10% - $500 -
2.10% - $1,000 -
Pen Air
Restrictions
2.05% - $500 -
2.02% - $1,000 -
All In
Restrictions
2.02% - $1,000 -
Florida
Restrictions
2.00% 9 $5,000 -
2.00% 61 $500 -
121 Financial
Restrictions
2.00% 7 $10,000 -
2.00% - $500 -
Baxter
Restrictions
2.00% 18 $500 -
Alive
Restrictions
1.97% - $1,000 -
Lake Michigan
Restrictions
1.95% - $500 -
Vystar
Restrictions
1.95% - $500 -
1.90% - $500 -
1.90% - $500 -
First Florida
Restrictions
1.89% 9 $1,000 -
Envision
Restrictions
1.87% - $500 -
1.86% - $1,000 -
Jax
Restrictions
1.85% - $500 -
Florida
Restrictions
1.85% 18 $5,000 -
1.85% 13 $10,000 -
First Commerce
Restrictions
1.85% - $1,000 -
1.82% - $500 -
Tampa Bay
Restrictions
1.80% - $500 -
Tyndall
Restrictions
1.80% - $1,000 -
Lake Michigan
Restrictions
1.80% 6 $500 -
First Florida
Restrictions
1.79% - $1,000 -
Miami
Restrictions
1.75% 18 $10,000 -
1.75% - $1,000 -
1.75% - $500 -
Florida
Restrictions
1.75% 13 $5,000 -
1.75% 13 $500 -
Wings Financial
Restrictions
1.66% - $500 -
1.65% - $500 -
1.65% - $1 -
1.65% 31 $500 -
Power Financial
Restrictions
1.65% 37 $1,500 -
Geico
Restrictions
1.61% - $1,000 -
Pentagon
Restrictions
1.60% - $1,000 -
Coastline
Restrictions
1.60% - $1,000 -
South Florida
Restrictions
1.55% - $200 -
People's Alliance
Restrictions
1.54% - $500 -
T M H
Restrictions
1.51% - $1,000 -
1.51% - $1,000 -
1.50% - $1,000 -
1.50% - $500 -
Florida
Restrictions
1.50% 26 $5,000 -
Suncoast
Restrictions
1.50% - $500 -
Sunstate
Restrictions
1.46% - $1,000 -
Jm Associates
Restrictions
1.46% - $1,000 -
Orlando
Restrictions
1.42% - $1,000 -
Florida
Restrictions
1.40% 37 $5,000 -
Power Financial
Restrictions
1.40% 51 $2,500 -
Grow Financial
Restrictions
1.35% - $500 -
Florida
Restrictions
1.35% - $2,000 -
1.35% - $1,000 -
Partners
Restrictions
1.30% - $1,000 -
1.26% - $1,000 -
Platinum
Restrictions
1.26% - $1,000 -
1.26% - $250 -
1.25% - $1,000 -
Baxter
Restrictions
1.25% - $500 -
1.25% - $500 -
121 Financial
Restrictions
1.21% - $500 -
1.15% - $500 -
Everence
Restrictions
1.10% - $500 -
Florida Central
Restrictions
1.06% - $500 -
Tampa Postal
Restrictions
1.05% - $500 -
1.01% - $1,000 -
Gte
Restrictions
1.00% - $500 -
Coral Community
Restrictions
1.00% - $500 -
Florida
Restrictions
1.00% 65 $10,000 -
1.00% - $1,000 -
Guardians
Restrictions
0.95% - $1,000 -
University
Restrictions
0.90% - $500 -
Launch
Restrictions
0.90% - $1,000 -
Ocala Community
Restrictions
0.90% - $500 -
Campus Usa
Restrictions
0.85% - $2,000 -
Dade County
Restrictions
0.80% - $500 -
Insight
Restrictions
0.80% - $1,000 -
0.75% - $1,000 -
Mccoy
Restrictions
0.70% - $1,000 -
Fairwinds
Restrictions
0.70% - $1,000 -
Brightstar
Restrictions
0.60% - $500 -
Harvesters
Restrictions
0.55% - $50 -
Power Financial
Restrictions
0.54% - $500 -
Miami
Restrictions
0.50% - $25 -
Jetstream
Restrictions
0.50% - $500 -
Priority
Restrictions
0.50% - $500 -
Midflorida
Restrictions
0.50% - $1,000 -
Innovations
Restrictions
0.45% - $1,000 -
Bay
Restrictions
0.45% - $1,000 -
United Police
Restrictions
0.40% - $1,000 -
Tallahassee-leon
Restrictions
0.25% - $500 -
All rates listed are Annual Percentage Yield (APY). The APY rate in a savings account or money market account is a variable rate that is subject to change at any point. The Min listed is the minimum deposit account balance required to obtain the rate listed.


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PRODUCT INFORMATION


Fixed Rate IRA CDs

Fixed Rate IRA CDs are CDs that are held within an Individual Retirement Account (IRA) or a Roth Retirement Account. In an IRA, the funds are deposited pre-tax and allowed to accumulate tax free. When the individual retires, they are withdrawn and all earnings are taxed at the prevailing tax rate. Because individuals generally have lower incomes upon retirement, the tax rate is lower than what it would have been during their working years.

With a Roth IRA, post-tax funds are deposited into the account and the money is allowed to accumulate and be withdrawn tax free.

If the funds are withdrawn before retirement age 59 1/2, the individual will be required to pay a 10% penalty on top of any taxes owed. There are some exceptions to this rule. Fund can be withdrawn penalty free if they are used to pay for education at an IRA qualifying institution or in the purchase of a house.

Advantages to a FIRA

  • Money grows in a tax-advantaged way.
  • Funds are FDIC insured, just like a regular CD.
  • Interest rates on FIRAs are often higher than the same terms for a CD.
  • Some flexibility in withdrawing the money early for first time homebuyers and education expenses.

Disadvantages to a FIRA

  • Returns may not be as high as stocks, bonds, mutual funds.
  • Funds cannot be withdrawn until 59 1/2 without penalty (except for IRS approved expenses).
  • If interest rates rise during the term of the FIRA, money will be stuck in lower yielding account.

Please click here for more information on fixed rate IRA CDs.

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