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Illinois Credit Union IRA CD Rates 2019

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IL - December 5, 2019

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Credit UnionS APY Months MIN Miles?
United
Restrictions
2.50% 36 $1,000 -
Dupaco Community
Restrictions
2.45% 45 $100,000 -
Melrose
Restrictions
2.42% - $5,000 -
American Airlines
Restrictions
2.33% - $1,000 -
1st Midamerica
Restrictions
2.32% 59 $1,000 -
Dupaco Community
Restrictions
2.30% 25 $100,000 -
2.28% - $1,000 -
Selfreliance
Restrictions
2.25% 11 $500 -
Advia
Restrictions
2.25% 25 $500 -
Dupaco Community
Restrictions
2.20% 45 $5,000 -
2.20% 16 $100,000 -
Advia
Restrictions
2.15% 10 $500 -
Dupaco Community
Restrictions
2.15% 11 $100,000 -
2.15% 8 $100,000 -
Self-help
Restrictions
2.12% - $100 -
1st Midamerica
Restrictions
2.12% 35 $1,000 -
2.10% - $1,000 -
Ascentra
Restrictions
2.10% 19 $100,000 -
2.10% 16 $250 -
2.05% 9 $500 -
Ascentra
Restrictions
2.05% 19 $50,000 -
Dupaco Community
Restrictions
2.05% 25 $5,000 -
Alliant
Restrictions
2.05% - $1,000 -
2.05% 8 $250 -
1st Midamerica
Restrictions
2.02% 21 $1,000 -
2.00% 24 $10,000 -
United
Restrictions
2.00% 19 $1,000 -
Ascentra
Restrictions
2.00% 19 $500 -
Land Of Lincoln
Restrictions
2.00% 9 $10,000 -
Baxter
Restrictions
2.00% 18 $500 -
1.98% - $500 -
Streator Onized
Restrictions
1.97% 13 $500 -
1.95% - $500 -
Land Of Lincoln
Restrictions
1.90% 11 $10,000 -
Dupaco Community
Restrictions
1.90% 11 $5,000 -
R.i.a.
Restrictions
1.87% - $500 -
Iaa
Restrictions
1.87% - $1,000 -
1.85% 9 $100,000 -
Gateway Metro
Restrictions
1.80% - $500 -
Heritage
Restrictions
1.80% 10 $500 -
Selfreliance
Restrictions
1.76% - $500 -
1.76% 13 $2,000 -
Quorum
Restrictions
1.75% - $1,000 -
1.75% 12 $10,000 -
Arsenal
Restrictions
1.75% - $500 -
1.75% - $1,000 -
First Community
Restrictions
1.75% - $500 -
Abri
Restrictions
1.75% 15 $10,000 -
Scott
Restrictions
1.70% - $500 -
First Financial
Restrictions
1.70% - $1,000 -
1.70% - $250 -
1.66% 39 $2,000 -
1st Midamerica
Restrictions
1.66% 11 $1,000 -
Andigo
Restrictions
1.65% - $1,000 -
1.65% - $1,000 -
1.65% 57 $1,000 -
1.61% 12 $25,000 -
Xceed Financial
Restrictions
1.60% - $500 -
1.60% - $1,000 -
Siu
Restrictions
1.56% 15 $50,000 -
New Century
Restrictions
1.51% - $1,000 -
Siu
Restrictions
1.51% 15 $1,000 -
Acme Continental
Restrictions
1.51% - $100 -
1.51% 25 $2,000 -
Gcs
Restrictions
1.51% - $1,000 -
Parda
Restrictions
1.51% 60 $500 -
Numark
Restrictions
1.50% - $1,000 -
1.50% 12 $10,000 -
1.46% - $500 -
Tech
Restrictions
1.46% - $1,000 -
Great Lakes
Restrictions
1.45% 13 $1,000 -
1.45% - $250 -
Illiana Financial
Restrictions
1.45% - $1,000 -
1.41% - $500 -
Illinois State
Restrictions
1.41% - $1,000 -
1st Gateway
Restrictions
1.40% - $1,000 -
1.31% - $1,000 -
1.30% - $500 -
United Community
Restrictions
1.26% - $1,000 -
Heartland
Restrictions
1.26% - $1,000 -
Commonwealth
Restrictions
1.26% - $1,000 -
Vibrant
Restrictions
1.25% - $100 -
1.25% - $500 -
Vantage
Restrictions
1.25% - $2,000 -
Baxter
Restrictions
1.25% - $500 -
Abri
Restrictions
1.25% - $500 -
1.20% - $500 -
Rockford Bell
Restrictions
1.16% - $1,000 -
Polish & Slavic
Restrictions
1.11% - $500 -
Financial Plus
Restrictions
1.10% - $1,000 -
Du Trac Community
Restrictions
1.10% - $1,000 -
First Northern
Restrictions
1.10% - $2,500 -
Membersalliance
Restrictions
1.10% - $500 -
Community Trust
Restrictions
1.05% - $500 -
Ascentra
Restrictions
1.05% - $500 -
1.05% - $500 -
1st Midamerica
Restrictions
1.01% - $1,000 -
1.01% - $2,500 -
Parda
Restrictions
1.00% 12 $500 -
Great Lakes
Restrictions
1.00% - $1,000 -
The Family
Restrictions
1.00% - $500 -
Streator Onized
Restrictions
0.95% - $1,000 -
Advia
Restrictions
0.90% - $500 -
Earthmover
Restrictions
0.90% - $500 -
Midwest America
Restrictions
0.85% - $500 -
Cornerstone
Restrictions
0.85% - $1,000 -
0.75% - $1,000 -
0.75% - $500 -
0.75% - $1,000 -
Blackhawk Area
Restrictions
0.75% - $1 -
0.70% - $1,000 -
Dupaco Community
Restrictions
0.70% - $1,000 -
Parda
Restrictions
0.65% 6 $500 -
Siu
Restrictions
0.50% - $1,000 -
0.50% - $500 -
0.50% - $1,000 -
Staley
Restrictions
0.50% - $1,000 -
Land Of Lincoln
Restrictions
0.40% - $1,000 -
United
Restrictions
0.25% - $500 -
Redbrand
Restrictions
0.25% - $1,000 -
Generations
Restrictions
0.25% - $100 -
South Division
Restrictions
0.20% - $500 -
Heritage
Restrictions
0.20% - $500 -
0.20% - $100 -
0.08% - $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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