Traditional & Roth IRA Share Certificate


Guaranteed earnings on
retirement savings

Did you know there’s more than one way to save for retirement? SEFCU Individual Retirement Account (IRA) Share Certificates* help you build your nest egg with a no-risk rate.


coins and dollar sign

Open with just


to earn dividends for retirement!

Features and Benefits

Boost retirement savings

  • Open with $500 (or more, if you’d like)
  • Higher dividends than traditional savings accounts
  • Lock in your rate for six to 60 months (rate varies by term)
  • No-risk investment; your return is guaranteed
  • Early withdrawal allowed, but penalized


Rates & Fees

Fixed Rates

Term Dividend Rate Annual Percentage Yield**
6 months 2.46% 2.50%
12 months 2.71% 2.75%
18 months 3.19% 3.25%
24 months 3.19% 3.25%
24-month add-on 3.19% 3.25%
36 months 3.44% 3.50%
48 months 3.44% 3.50%
60 months 3.44% 3.50%


Item IRS penalty SEFCU penalty New York State bank/credit union average penalty***
(as of July 2018)
Early withdrawal Additional IRS penalties may apply Penalty for breaking the Certificate, based on amount withdrawn and the original term length; exceptions are made for withdrawals intended to cover a required minimum distribution $28.93 – $32.22
Early redemption Additional IRS penalties may apply Distributions are usually subject to a SEFCU penalty; exceptions are made in the case of the member having died  

*** New York  bank/credit union average penalties are accurate as of July 2018, and are published in New York Credit Union Association’s RateWatch.

Qualified Distributions List

Item IRS penalty
IRA owner will be at least 59 ½ years old in the applicable tax year None
IRA owner becomes disabled or has died None
Funds used for qualified higher education expenses None
Funds are used for a “first-time” home purchase “first-time” home purchase means:
  • The home must be purchased by a grandparent, parent, spouse, child, or grandchild of the IRA owner, or by the IRA owner
  • The home purchaser may not have had his or her name on a mortgage deed in the last three years
  • There is a lifetime limit of $10,000 which can be distributed from the Roth IRA for this purpose
Funds are used for medical insurance premiums, provided the IRA owner has been receiving unemployment insurance payments for at least 12 weeks None
Funds are used to pay the portion of unreimbursed medical expenses in excess of 7.5% of the owner’s adjusted gross income None
A withdrawal program has been set up as a series of “Substantially Equal Periodic Payments” that are taken over the owner’s life, and are based on the owner’s life expectancy

Once this program is set up, it cannot be changed for five years
All other withdrawals Generally, 10% of the withdrawal


See which account is best for you

IRA Share Certificate

  • Open with $500
  • Six–60-month term
  • Guaranteed return (rate depends on term)
  • Lock in your rate when you open the certificate


Roth IRA

  • No minimum deposit
  • Withdraw after age 59½ (exceptions for qualifying reasons)
  • Return based on market
  • Tiered dividend rates

Learn More

Apply Now

Open a SEFCU IRA Share Certificate today

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IRA Share Certificate

Get tax benefits now

Put away pre-tax money

Earnings are tax-deferred

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* Note: Minimum to open and obtain the APY for all Share Certificates is $500.
** Annual Percentage Yield. APY is accurate as of today – February 2, 2023. Fees may reduce earnings. For Share Certificates, penalties may apply for early withdrawal.