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Certificates & IRAs

A smart way to save for the future — short term or long term— are certificate accounts and IRAs. Let a financial professional at Parsons Federal Credit Union help you create a strategy that’s right for you and your family.  

Certificate accounts allow you to accurately estimate your earnings and make planning for the future that much easier. They earn steady dividends often at a higher rate than most regular savings accounts. They can be a great way to diversify beyond the savings account you may already have, or an excellent alternative to such an account, depending on your needs.

If you have any questions, please reach out and speak with a Member Services Representative by calling (800) 765-4527.

Certificate Accounts

Share term certificates are designed to meet a variety of financial needs: short term or long, large sum or small, you can take advantage of attractive higher premium dividend rates in exchange for a guaranteed term of investment. We’ve got great choices, whatever your goals, featuring:

  • Flexible terms from 3 months to 5 years
  • Competitive rates
  • Dividends posted monthly

Current yields. Click here for current yields and balance minimums.

How much will my certificate be at maturity?

IRAs

Parsons FCU offers both Traditional and Roth IRA options for your retirement. The Traditional IRA is your basic account that allows you the flexibility of making regular and ongoing contributions. Contributions to your IRA may be deductible on your income taxes and your account earnings are tax deferred. (Always consult with a qualified tax or investment advisor for tax deductibility qualifications.)

Traditional IRA

  • Contributions often are tax-deductible
  • Earnings grow tax-deferred
  • Distributions generally are taxable
  • Distributions before you reach age 59½ are subject to penalty unless you meet an early distribution penalty exception.
  • Required minimum distributions must begin at age 70½

Roth IRA

  • Contributions are not deductible
  • Earnings grow tax-deferred
  • Contributions generally can be distributed tax-free at any time
  • Earning can be distributed tax-free five (5) years after opening the account, or when you have reached age 59½. Tax-free distributions may also be taken if the account owner dies or becomes disabled, or to pay first-time home buyer expense, or for supporting the account owners education expenses
  • Distributions are not required until after the Roth IRA holder dies

Traditional and Roth IRA contribution limits are:

  • Tax Year 2019 limit is $6,000.
  • Individuals 50 or more can make an additional $1,000 "catch-up" contribution per year

Don't need your retirement funds for a while? Lock them up as certificates for a higher rate, as all certificate rates apply to IRA Accounts as well.

Contact a Member Services Representative at (800) 765-4527 to discuss your IRA options.