CDs & IRAs from Leominster Credit Union

Investing for the short term and the long term comes easy with Certificates of Deposit and Individual Retirement Accounts from Leominster Credit Union. We’ve been helping our members earn a solid return on their savings with Traditional IRAs, Roth IRAs, Coverdell IRAs and CDs. Talk to an experienced Member Service Representative today. You can choose from an investment plan designed to make the most of your money.

Term Share Certificates

  • Available in terms from 3 months to 5 years
  • Competitive interest rates
  • $1,000 minimum to open

Relationship CD/IRA*

Enjoy a preferred rate on all standard CD products* when you maintain an active LCU checking account.**

  • Preferred interest rates (see rate sheet)
  • Available in terms from 3 months to 5 years
  • $1,000 minimum to open

*Does not apply to ‘special’ CD rates/terms
**To qualify for the Relationship CD/IRA rates, you must have an active LCU Checking Account with E-Statement and a direct deposit of payroll, Social Security, pension, or other regularly occurring income check per statement cycle.

Individual Retirement Accounts (IRAs)

An IRA is a tax-deferred retirement savings account that allows individuals to contribute a limited amount per year. A traditional IRA may allow individuals, depending on their incomes and participation in employer-sponsored retirement plans, to deduct part or all of their contributions on their tax returns. Withdrawals made after age 59½ are taxed at the current tax rate. In contrast, Roth IRAs allow individuals to withdraw earnings tax free, provided they have owned the account for five years and are at least age 59½. Contributions are made with after-tax dollars.

For more information, contact LCU’s IRA Consultant, Maila Berry at 978-466-7218 or mberry@leominstercu.com.

Traditional IRA

  • $1,000 minimum to open and earn stated interest
  • Available in various terms
  • You can contribute until age 70½ as long as you have earned income
  • Your earnings are tax-deferred until you begin taking distributions

Roth IRA

  • $1,000 minimum to open and earn stated interest
  • Available in various terms
  • You can contribute at any age as long as you have earned income
  • Your earnings are tax-free when you begin taking distributions

Coverdell Education Savings Account (formerly known as Education IRA)

  • A savings account specifically designed for higher education expenses
  • $2,000 per year per child
  • Available in various terms
  • Parent or legal guardian is responsible for the account

Inherited IRA’s (also known as Beneficiary Account)

  • $1,000 minimum to open and earn stated interest
  • Available in various terms
  • Transaction can only be completed as a “trustee to trustee” transfer from another financial institution.

Fees may reduce earnings on accounts. Rates and Annual Percentage Yields (APYs) on transaction account may be subject to change without notice and may change after account opening. Early withdrawal penalties will be imposed on term certificates and IRA accounts.