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Minnesota 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!

MN - August 21, 2019

Advertiser Disclosure
Credit UnionS APY Months MIN Miles?
Financial One
Restrictions
3.03% 58 $1,000 -
Two Harbors
Restrictions
2.95% 60 $99,001 -
Two Harbors
Restrictions
2.80% 60 $2,000 -
Altra
Restrictions
2.75% 27 $1,000 -
Two Harbors
Restrictions
2.70% 36 $99,001 -
Firefly
Restrictions
2.70% 48 $500 -
Wings Financial
Restrictions
2.63% 60 $90,000 -
Genisys
Restrictions
2.61% 25 $500 -
Wings Financial
Restrictions
2.58% 60 $10,000 -
Two Harbors
Restrictions
2.55% 36 $2,000 -
Firefly
Restrictions
2.55% 19 $500 -
Thrivent
Restrictions
2.55% 30 $1,000 -
Wings Financial
Restrictions
2.53% 60 $500 -
Financial One
Restrictions
2.52% 23 $1,000 -
Altra
Restrictions
2.50% 10 $1,000 -
2.50% 20 $2,500 -
Wings Financial
Restrictions
2.47% 20 $5,000 -
Melrose
Restrictions
2.42% - $5,000 -
Hiway
Restrictions
2.40% 16 $500 -
Wings Financial
Restrictions
2.38% 48 $90,000 -
Northwoods
Restrictions
2.37% - $1,000 -
Wings Financial
Restrictions
2.32% 48 $10,000 -
2.27% - $10,000 -
Financial One
Restrictions
2.27% 35 $1,000 -
Wings Financial
Restrictions
2.27% 48 $500 -
Two Harbors
Restrictions
2.25% 24 $99,001 -
Dawson Co-op
Restrictions
2.25% - $250 -
Ideal
Restrictions
2.22% 60 $2,500 -
Connexus
Restrictions
2.20% - $5,000 -
Crow Wing Power
Restrictions
2.19% - $1,000 -
Two Harbors
Restrictions
2.10% 24 $2,000 -
Genisys
Restrictions
2.10% - $500 -
Ideal
Restrictions
2.02% 36 $2,500 -
Financial One
Restrictions
2.02% 11 $1,000 -
Royal
Restrictions
2.02% - $1,000 -
2.00% - $500 -
Affinity Plus
Restrictions
2.00% - $500 -
Thrivent
Restrictions
2.00% 13 $5,000 -
Wings Financial
Restrictions
1.97% 36 $90,000 -
St. Paul
Restrictions
1.95% - $1,000 -
1.95% - $1,000 -
Wings Financial
Restrictions
1.92% 36 $10,000 -
Home Town
Restrictions
1.90% - $500 -
Ashland
Restrictions
1.90% - $1,000 -
Wings Financial
Restrictions
1.86% 36 $500 -
1.76% - $500 -
Trustar
Restrictions
1.75% - $5,000 -
1.75% - $500 -
Thrivent
Restrictions
1.75% - $1,000 -
1.75% - $500 -
Great River
Restrictions
1.71% - $1,000 -
Firefly
Restrictions
1.65% - $500 -
Smw Financial
Restrictions
1.65% 28 $100,000 -
Red Wing
Restrictions
1.51% - $500 -
United Educators
Restrictions
1.51% - $500 -
North Shore
Restrictions
1.50% - $500 -
1.50% - $500 -
Minnesota Valley
Restrictions
1.46% - $500 -
City & County
Restrictions
1.46% - $1,000 -
Smw Financial
Restrictions
1.45% 28 $50,000 -
Hiway
Restrictions
1.40% - $500 -
1.40% - $1,000 -
Spire
Restrictions
1.40% - $500 -
1.35% - $1,000 -
Sharepoint
Restrictions
1.35% - $500 -
Minnco
Restrictions
1.31% - $1,500 -
Two Harbors
Restrictions
1.30% - $500 -
Baxter
Restrictions
1.30% - $500 -
Central Minnesota
Restrictions
1.30% - $500 -
Anoka Hennepin
Restrictions
1.26% - $500 -
Mid Minnesota
Restrictions
1.25% - $500 -
First Alliance
Restrictions
1.25% - $500 -
1.25% - $2,500 -
Smw Financial
Restrictions
1.25% 28 $5,000 -
Building Trades
Restrictions
1.20% - $1,000 -
Altra
Restrictions
1.15% - $1,000 -
Topline
Restrictions
1.03% - $1,000 -
1.00% - $500 -
Superior Choice
Restrictions
0.95% - $2,500 -
Financial One
Restrictions
0.90% - $1,000 -
0.80% - $500 -
Ideal
Restrictions
0.80% - $500 -
0.80% - $1,000 -
Harbor Pointe
Restrictions
0.60% - $1,000 -
0.60% - $1,000 -
0.55% - $500 -
Accentra
Restrictions
0.55% - $500 -
0.50% - $1,000 -
Smw Financial
Restrictions
0.50% - $500 -
0.40% - $500 -
First Community
Restrictions
0.15% - $1,000 -
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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