From retirement to education and more, we have your IRA solution.
We all need to save for retirement, regardless of how young or old you are. Sandia Area offers you a number of options when it comes to choosing an IRA account that suits your needs. Whether you’re saving for the future or sending yourself or your child to school, consider the tax efficiencies1 of an IRA.
An IRA is ideal for the member who is seeking:
- A risk-free, competitive, dividend earning retirement savings plan
- To avoid paying administrative or commission fees
- An insured investment up to $250,000 per account
- To rollover or direct transfer money from an existing IRA from another entity or qualified retirement plan
- No annual IRA maintenance fee
Whether you need a Traditional, Roth, Educational Savings or need to rollover an IRA from a past employer, choose the option that fits your needs, and take the first step toward securing your financial future.
1 Not intended as tax advice. Please consult a tax professional. The above descriptions are meant to be educational in nature. Certain restrictions apply to every type of IRAs to take full advantage of their favorable tax treatment. It's important to understand the requirements and limitations on the various IRAs. Sandia Area Membership is required for all accounts.
Find the right IRA to meet your goals
What's the difference?
Roth IRAs
Contributions are not tax-deductible; however, the money in your Roth IRA, including earnings, may be withdrawn tax-free when completed as a qualified distribution.¹
Traditional IRAs
Traditional IRAs offer tax-deferred earnings and the possibility for tax-deductible contributions. Distributions are taxed as ordinary income.¹
Rollovers IRAs
Consolidate retirement assets with former employers into one, easy-to-manage account.
Coverdell Education Savings Account (ESA)
An account to help parents and students save for education expenses.
¹Not intended as tax advice. Please consult a tax professional. The above descriptions are meant to be educational in nature. Certain restrictions apply to every type of IRAs to take full advantage of their favorable tax treatment. It's important to understand the requirements and limitations on the various IRAs. Sandia Area Membership is required for all accounts.
| IRA Share Certificates | ||
| Effective Date: 10/16/18 | ||
| IRA Share Certificate Term | Dividend Rate | APY1 |
| 6-Month | 0.85% | 0.85% |
| 12-Month | 1.29% | 1.30% |
| 24-Month | 2.03% | 2.05% |
| 36-Month | 2.13% | 2.15% |
| 48-Month | 2.28% | 2.30% |
1APY = Annual Percentage Yield and assumes principal and interest remain on deposit for the term of the Certificate.Rates are accurate as of 10/16/18 and are subject to change without notice. $500 minimum required for Share Certificates. Substantial penalties may be imposed for early withdrawal and could reduce earnings. | ||
| IRA Money Market | ||
| Effective Date: 10/16/2018 | ||
| Minimum Balance Required | Dividend Rate | APY1 |
| $0 - $999.99 | 0.00 | 0.00 |
| $1,000 - $9,999.99 | 0.20 | 0.20 |
| $10,000 - 24,999.99 | 0.25 | 0.25 |
| $25,000- $49,999.99 | 0.30 | 0.30 |
| $50,000 - $99,999.99 | 0.30 | 0.30 |
| $100,000 - $149,999.99 | 0.35 | 0.35 |
| $150,000 - $199,999.99 | 0.35 | 0.35 |
| $200,000 - $249,999.99 | 0.35 | 0.35 |
| $250,000 - $499,999.99 | 0.35 | 0.35 |
| $500,000 & Over | 0.40 | 0.40 |
1APY = Annual Percentage Yield. Rates are accurate as of 10/16/18 and are subject to change without notice. You must maintain the minimum daily balance in your account each day to obtain the disclosed Annual Percentage Yield. Rates for variable rate accounts are subject to change after the account has been opened. | ||
| IRA Shares | ||
| Effective Date: 9/11/2018 | ||
| Minimum Balance Required | Dividend Rate | APY1 |
| <$0 - $999.99 | 0.10 | 0.10 |
| $1,000 - $9,999.99 | 0.10 | 0.10 |
| $10,000 - $24,999.99 | 0.15 | 0.15 |
| $25,000 - $49,999.99 | 0.15 | 0.15 |
| $50,000 - $99,999.99 | 0.20 | 0.20 |
| $100,000 - $149,999.99 | 0.20 | 0.20 |
| $150,000 - $199,999.99 | 0.20 | 0.20 |
| $200,000 - $249,999.99 | 0.20 | 0.20 |
| $250,000 - $499,999.99 | 0.20 | 0.20 |
| $500,000 & Over | 0.20 | 0.20 |
1APY = Annual Percentage Yield. Rates are accurate as of 9/11/18 and are subject to change without notice. You must maintain the minimum daily balance in your account each day to obtain the disclosed Annual Percentage Yield. Rates for variable rate accounts are subject to change after the account has been opened. | ||