You are viewing fixed rate ira rates across Washington

Washington 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!

WA - July 21, 2019

Advertiser Disclosure
Credit UnionS APY Months MIN Miles?
3.50% 10 $50 -
Red Canoe
Restrictions
3.00% 60 $500 -
Unitus Community
Restrictions
3.00% 60 $500 -
Wings Financial
Restrictions
2.73% 60 $90,000 -
Wings Financial
Restrictions
2.68% 60 $10,000 -
Wings Financial
Restrictions
2.63% 60 $500 -
O Bee
Restrictions
2.60% 33 $500 -
2.55% - $500 -
Spokane Teachers
Restrictions
2.53% 60 $2,000 -
Wings Financial
Restrictions
2.48% 48 $5,000 -
Spokane Teachers
Restrictions
2.43% 30 $25,000 -
Melrose
Restrictions
2.42% - $5,000 -
Wings Financial
Restrictions
2.42% 48 $10,000 -
Wings Financial
Restrictions
2.37% 48 $500 -
First Technology
Restrictions
2.30% - $500 -
Wings Financial
Restrictions
2.27% 13 $500 -
Lewis Clark
Restrictions
2.27% - $500 -
2.25% - $1,000 -
2.25% 30 $500 -
2.19% 19 $500 -
Alaska Usa
Restrictions
2.10% - $500 -
Iq
Restrictions
2.10% - $1 -
Wings Financial
Restrictions
2.07% 36 $90,000 -
Wings Financial
Restrictions
2.02% 36 $10,000 -
Spokane Teachers
Restrictions
2.02% 18 $2,000 -
2.02% - $1,000 -
Cheney
Restrictions
2.02% - $2,000 -
O Bee
Restrictions
2.02% 9 $500 -
Unitus Community
Restrictions
2.00% - $500 -
Wings Financial
Restrictions
1.96% 36 $500 -
Fibre
Restrictions
1.95% 30 $500 -
Wings Financial
Restrictions
1.86% - $500 -
Sound
Restrictions
1.82% - $1,000 -
Fibre
Restrictions
1.80% - $500 -
Progressions
Restrictions
1.76% 7 $10,000 -
Our Community
Restrictions
1.75% - $1,000 -
Red Canoe
Restrictions
1.70% - $500 -
1.70% - $500 -
1.70% - $500 -
Nw Priority
Restrictions
1.60% - $500 -
O Bee
Restrictions
1.56% - $500 -
Twinstar
Restrictions
1.56% - $500 -
Harborstone
Restrictions
1.51% - $100 -
Kitsap
Restrictions
1.50% - $500 -
Hapo Community
Restrictions
1.50% - $100 -
1.50% - $500 -
Onpoint Community
Restrictions
1.50% - $1,000 -
1.45% - $500 -
Qualstar
Restrictions
1.30% - $1,000 -
Numerica
Restrictions
1.30% - $500 -
1.26% - $1,000 -
Great Northwest
Restrictions
1.25% - $2,000 -
1.21% - $1,000 -
Snocope
Restrictions
1.11% - $500 -
Verity
Restrictions
1.05% - $1,000 -
Horizon
Restrictions
1.00% - $500 -
Spokane
Restrictions
1.00% - $5,000 -
North Coast
Restrictions
0.90% - $250 -
Lower Valley
Restrictions
0.80% - $500 -
Westedge
Restrictions
0.80% - $2,000 -
Gesa
Restrictions
0.80% - $500 -
Progressions
Restrictions
0.35% - $500 -
0.25% - $1,000 -
Spokane Teachers
Restrictions
0.25% - $500 -
Coulee Dam
Restrictions
0.25% - $500 -
Global
Restrictions
0.23% - $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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