Term Savings Certificates

RATES AS HIGH AS:

% APY*

Whatcom Educational Credit Union has designed a certificate program to be competitive and, more importantly, to specifically meet your needs. Certificates may be used as collateral for lending purposes at 2% over the issue rate, except when being used as an IRA investment.

There are several options available to you at maturity:

• The principal may automatically renew into the same term certificate.
• The dividends may automatically renew into the same term certificate.
• The principal may be transferred into any other accounts you have at WECU.
• The dividends may be transferred into any other accounts you have at WECU.
• The principal may be sent to you in the form of a check or to someone else that you choose.
• The dividends may be sent to you in the form of a check or to someone else that you choose.

* Annual Percentage Yield

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Individual Retirement Accounts

RATES AS HIGH AS:

% APY*

It is important that you consult your tax advisor for information regarding your specific tax implications prior to investing in an Individual Retirement Account (IRA). 

Traditional and Roth IRAs at WECU are insured in the aggregate to $250,000 by the National Credit Union Administration (NCUA.)

Traditional IRA 

Effective 2008, the maximum contribution for a Traditional IRA is $5,000 per year up to age 50, $6,000 per year from age 50 to 70.5 or 100 percent of compensation, whichever is less, in a tax-deferred retirement savings plan. Based on your income, all or part of your IRA contribution may be tax deductible. Dividends earned through the years of this plan are also tax-deferred. No federal income tax is paid on either savings or dividends until distribution begins.

Roth IRA

Effective 2008, the maximum contribution for a Roth IRA is $5,000 per year up to age 50, $6,000 per year from age 50 to 70.5 or 100 percent of compensation, whichever is less, in a tax-deferred retirement savings plan. Contributions are not deductible. However, distributions, including earnings, may be tax free if certain conditions are met.

IRA dividends and principal automatically renew into the same term certificate. Contact our member service department for more detailed information on Individual Retirement Accounts.

* Annual Percentage Yield

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