NavyArmy offers a wide range of Individual Retirement Account products that can help make your retirement dreams come true.
Share Account requires a minimum balance of $50.00.
No monthly fees.
Contributions may be made in lump sums or by regular deposits throughout the year.
Dividends are paid quarterly.
IRA Certificates are also available with a minimum deposit of $1,000 and terms of 12 and 24 months.
For Current IRA Share Account and IRA Certificate rates, click here.
Traditional IRA
A traditional IRA is a savings account that allows you to defer taxes on your earnings until they are withdrawn. Also, certain contributions may be tax deductible in the year they are made.
Consult your tax advisor for further information.
Roth IRA
The Roth IRA is an account that features tax-free withdrawals for certain distribution reasons after a five-year holding period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, members who expect to be in a higher tax bracket when they retire may benefit more from a Roth IRA than from a Traditional IRA. Unlike the Traditional IRA, there is no requirement to begin taking distributions at age 70. Consult your tax advisor for further information.
Coverdell (educational) IRA
The Educational IRA is an account that features tax-free withdrawals for a child's higher education expenses. Contributions are nondeductible; therefore, unlike the Traditional IRA, distributions from an Educational IRA are penalty free and tax-free.
Consult your tax advisor for further information.
IRA Certificates
Earn higher dividends with an IRA Certificate. IRA Certificates are available with a minimum deposit of $1,000.
Consult your tax advisor for further information.
*IRA Certificates subject to NavyArmy penalties upon early withdrawal. Please click here for more information.
How to Open Your IRA Account
Come by one of our convenient branches and complete the account information.
Make your initial deposit of $50 for IRA Share or $1,000 minimum for IRA Certificate.
Dividends are calculated on average daily balance and paid quarterly.
Or just give Us A Call
If you don't have the time to come into a branch, you can give one of our Member Service Representatives a call at 361-986-4500 or 800-622-3631, option 2.
