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Certificate Options Individual Retirement Accounts
A Certificate at Jax Federal Credit Union provides you risk-free Individual Retirement Accounts, known as IRAs, are also
savings at a guaranteed rate of return for a specific length of available at Jax Federal. The credit union offers both IRA share
time. Our Certificates are federally insured by the NCUA for savings accounts and IRA Certificates in terms of 3 months
your protection and peace of mind. When you invest in a to 60 months. Jax Federal has the Traditional IRA, the Roth
Certificate, your money is not subject to stock market swings IRA, and for your child’s college education, the Coverdell
that can cause you to lose money. Instead, you know exactly Education Savings Account. IRAs are separately insured up to
what you’ll earn and when. $250,000 by the NCUA - a federal government agency.
Certificates Traditional IRA
A traditional IRA is a retirement plan that offers tax-deferred earnings,
Open a Certificate and start earning the most competitive rates on your
and the possibility for tax-deductible contributions. These tax advantages
savings while your funds remain federally insured. Most certificates have a
make the traditional IRA a powerful tool in creating a balanced, long-term
low opening balance of only $500 and terms ranging from 3 to 60 months.
savings plan.
We even offer convenient dividend and maturity options.
• Earnings accumulate tax-deferred (consult your tax advisor
for details)
Personal Goal Savings Certificate • Contributions are tax-deductible if you qualify
Do you want to save, need to save? The Personal Goal Savings Certificate may
be just for you. It is personal because you choose the amount of $3000, $5000,
or $10,000 as your goal, and your term of either 3 years or 5 years. Based on Roth IRA
your choices, we’ll tell you how much to deposit through payroll deduction The Roth IRA offers unique and exciting savings opportunities. It can help
or automatic transfer to reach that goal. with retirement needs, a first-time home purchase or other financial goals.
• $0.00 minimum to open. Maximum is no more than first This flexibility makes the Roth IRA appealing to all age groups. It also
scheduled installment. provides an easy and safe way to plan for the future.
• Lump sum deposits are not allowed • Contributions are allowed at any age
• Penalty for early withdrawal • Qualified distributions are tax-free
• Transfers to Savings account at maturity • Flexible withdrawal options are available
Sample Savings Chart
Coverdell Education Savings Account
5 Year Certificate If you are wondering how you will pay for your child’s education, a
Target Coverdell Education Savings Account (ESA) can be a smart way to save.
Monthly Semi-monthly Bi-weekly Weekly
Balance Your withdrawals are tax-free if used for tuition, books, and other qualified
$10,000.00 $167.00 $84.00 $77.00 $39.00 higher-education expenses.
$5,000.00 $84.00 $42.00 $39.00 $20.00
$3,000.00 $50.00 $25.00 $23.00 $12.00
3 Year Certificate
Target
Monthly Semi-monthly Bi-weekly Weekly
Balance
Maximize your earnings.
$10,000.00 $278.00 $139.00 $129.00 $64.00
Save for your future.
$5,000.00 $139.00 $70.00 $64.00 $32.00
$3,000.00 $83.00 $42.00 $38.00 $19.00
We want you to achieve your long- term goals. So, a penalty of 180 days
interest will be incurred for early withdrawals…because this is a savings tool,
remember? We want you to think twice before dipping into your account. We do business in accordance with the Federal Fair Housing law and
The Equal Opportunity Credit Act. IC.04.09
Say What?
There’s no need to feel overwhelmed by banking lingo. Take a Certificate & IRA Products
look at the list below, if you have more questions – just ask.
PERSONAL GOAL
IRA IRA
Terms (Time period until maturity) CERTIFICATES SAVINGS
CERTIFICATES SAVINGS
The term of the certificates vary from 3 to 60 months and the rates depend CERTIFICATE
on your account status with JAX Federal Credit Union. The longer the term on
the share certificate, the higher the dividend.
3 Months – 3 Months –
Dividends (Interest or earnings) Term? 3 or 5 Years N/A
60 Months 60 Months
In credit unions, members are owners, therefore interest equals dividends.
Dividends are compounded and paid monthly. Payment options include:
compounding, paid by check or transfer to another JAXFCU account. $500.00 $500.00
(6 to 60 Months) (6 to 60 Months)
Minimum to Open? $0.00 $1.00
Withdrawal Penalty (To take money out) $10,000.00 $10,000.00
You may make a partial withdrawal as long as the remaining certificate (3 Months) (3 Months)
balance is above the minimum requirement. There is a penalty for early
withdrawal. If the account has a term of six months or less, there is a 90-day
dividend penalty, if the account has a term of a year or more, there is a Interest*
MONTHLY – BASED ON DAILY BALANCE
180-day dividend penalty. The penalty may reduce the principal. Compounded?
Renewal (To refresh or continue on again)
Certificates can automatically renew at maturity or be transferred to a JAXFCU
Penalty for Early
account at maturity by your request at account opening or before the YES YES YES YES
Withdrawal?
maturity date. You have 10 calendar days from the date of maturity to redeem
or withdraw from the certificate. Unredeemed certificates will automatically
rollover, for the same term and at the current rate, on its maturity date. Annual Contribution can be up to
Fixed Rate
$5,000.00 or 100% of earned income**
Fixed Rate
Automatically
Can withdraw without penalty
Miscellaneous Automatically
Fixed Rate Renews
at age 59 1/2
Renews
Can withdraw without
Qualified contributions may be tax
penalty at age 59 1/2
Free online tools keep you in-touch deductible; Consult your tax advisor
with your accounts
Telephone Banking YES YES YES YES
Use the Shared Branching
Locator tool on our web
site to find shared branches
Street Address: close to home, the office or Free Online
while you’re traveling. Banking? YES YES YES YES
City:
Our ATM Locator Tool helps www.jaxfcu.org
Zip Code:
State: Street Address: you find the most free ATMs
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Branch
around Jax or anywhere!
ATM City: * In credit unions, members are owners, therefore interest equals dividends.
** Contribution limits subject to change. Consult your tax advisor for details.
Find Locations www.jaxfcu.org
State:
Zip Code: It’s as EASY as it gets. We also offer Traditional and Roth IRAs and Coverdell Education Savings Accounts.
5
6
ATM Branch Telephone Banking Access (904) 475-8258, or toll free (866) 260-8258.
Find Locations
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