Retirement Made Easy

Whether you’re a self-employed individual or an owner of a small business wishing to provide retirement benefits, the SEP IRA (Simplified Employee Pension) is one ideal option.

Compared to conventional retirement plans, the SEP IRA allows for tax-deferred retirement investing with lower start-up and operating costs.

Additionally, there are several other advantages:

  • Possible employer tax credit for start-up costs
  • Simple to administer and maintain
  • No government reporting
  • Easy-to-understand documents
  • No fiduciary liability for investments
  • Discretionary annual contributions

Eligibility Requirements

Generally, all employees are eligible to participate unless they:

  • Are under the age of 21
  • Have not worked in three of the immediately preceding five years
  • Are not earning the set minimum annual amount ($550 for 2014)

IRA Rates

Term Dividend Rate Annual % Yield
12 Months SEP 0.90% 0.90%
18 Months SEP 1.03% 1.04%
24 Months SEP 1.15% 1.16%
36 Months SEP 1.44% 1.45%
48 Months SEP 1.52% 1.53%
60 Months SEP 1.84% 1.86%

*$250 Minimum Balance for IRA Certificate.

Rates are effective as of 12/20/2016. Published rates and annual percentage yields (APYs) are subject to change daily.

A penalty will be imposed for early withdrawal. Tax-deferred Certificates may include additional penalties.

Share certificates are available with a minimum deposit of $1,000. IRA certificates are available with a minimum deposit of $250. 6-month IRA certificates are not available.

Annual Percentage Yield (APY) is accurate as of effective date. Rates are fixed for term and interest is compounded monthly. The stated APY assumes principal and interest remain on deposit until maturity. Fees and other conditions could reduce earnings on the account.

Your investments are insured up to $250,000 by the National Credit Union Administration (NCUA), a U.S. Government Agency backed by the full faith and credit of the United States Government.

Want to learn more? Visit our Rate page to view all current rates.

Loan Rates