IRAs and Certificates
For your longer-term savings goals, including a stable retirement.
Compare Products
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Best if you want
Best if you want
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Minimum balance
Minimum balance
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Annual fee
Annual fee
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Options and perks
Options and perks
Save to Win
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Best if you want
A 12-month share certificate that offers the chance of a cash prize for every deposit you make.
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Minimum balance
No Minimum balance
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Annual fee
N/A
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Options and perks
For every $25 you deposit, you increase your chances to win a cash prize.
Certificate
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Best if you want
To save a high balance without needing immediate access to your funds.
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Minimum balance
$500 ($100 for members 0-23 years of age)*
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Annual fee
N/A
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Options and perks
Available at terms of six months to five years.
Traditional IRA
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Best if you want
To save long-term and make tax-deductible contributions.
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Minimum balance
No Minimum Balance
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Annual fee
$12
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Options and perks
Your contributions may be deducted from your taxable income, reducing the income taxes you pay now.
Roth IRA
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Best if you want
To save long-term with tax-free earnings.
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Minimum balance
No Minimum balance
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Annual fee
$12
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Options and perks
Your contributions aren’t tax-deductible, but your earnings are tax-free under certain conditions.
Certificate Calculator
Certificates are a great way to “lock in” great savings rates or to save up for expected purchases in the future. See how your savings could add up over time.
Calculated amounts are for estimation purposes only. Full certificates disclosures shown below.
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Certificate Term |
Dividend Rate |
APY * |
Min. Balance ** |
|---|---|---|---|
|
6 Month Certificate |
3.84% |
3.90% |
$500 |
|
12 Month Certificate |
3.94% |
4.00% |
$500 |
|
12 Month Save To Win Certificate |
3.94% |
4.00% |
$25 |
|
18 Month Certificate |
2.97% |
3.00% |
$500 |
|
24 Month Certificate |
2.72% |
2.75% |
$500 |
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26 Month Add-on Certificate |
2.23% |
2.25% |
$500 |
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30 Month Bump-Rate Certificate |
2.23% |
2.25% |
$500 |
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36 Month |
2.48% |
2.50% |
$500 |
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48 Month Certificate |
2.48% |
2.50% |
$500 |
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60 Month Certificate |
2.48% |
2.50% |
$500 |
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Rates effective as of January 7, 2025. * APY = Annual Percentage Yield. IRA Certificates are available for all terms excluding Save to Win Certificates and Specials General Conditions: Rates. Certificate rates are subject to change on Tuesday morning of each week. The Dividend Rate and Annual Percentage Yield on your accounts are set forth above. The Annual Percentage Yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. The Annual Percentage Yield is based on an assumption that dividends will remain on deposit until maturity. A withdrawal will reduce earnings. Edge Certificate rates only available to members 0-23 years of age. Certificate RATES remain fixed for the term of the certificate, excluding Bump Rate certificates. Save to Win certificates are only available to members age 18 and above. Dividends. Dividends are paid from current income and available earnings after providing for the required reserves. The Dividend Rates and Annual Percentage Yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period. Crediting. Dividends will be credited quarterly. Once credited, dividends may be withdrawn without penalty. (IRA accounts and Save to Win certificates may be subject to other restrictions, see agreements for details.) Balance. The minimum balance required to open each certificate is set forth above. Dividends are calculated by the Daily Balance method, which applies a daily periodic rate to the principal. After your account is opened you may not make additional deposits to your account, except for Add-On Certificates and Save to Win Certificates. Additional deposits of $500.00* or more are permitted at any time during the initial term of the Add-On Certificates and additional deposits of any amount to Save to Win Certificates. Making additional deposits will not change the maturity date or other terms of the account. If the Add-On Certificate or Save to Win Certificate is set to automatically renew, the Add On feature will continue for any renewal term Accrual of Dividends. Dividends will begin to accrue on cash or noncash deposits (e.g. checks) on the business day you make the deposit to your certificate. Maturity. Your account will mature on the maturity date set forth on your Certificate Disclosure Statement. Certificates, excluding specials, have an automatic renewal feature at maturity. Penalties. There are substantial penalties for early withdrawal of certificate funds. Early withdrawal of certificate funds is subject to a penalty of one half of the interest that would be earned over the original term of the certificate. The penalty is calculated on the amount withdrawn. Save to Win Certificates are subject to distinctive penalty rules. ** Wherever $500 is stated, $100 applies for members 0-23 years of age. Please refer to your certificate disclosure form for specific details. |
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IRA Type |
APY* |
|---|---|
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Basic Savings IRA |
0.20% / Dividend Rate - 0.20% |
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Rates effective as of Nov 1, 2024 *Annual Percentage Yield. DIVIDENDS are declared and paid monthly and calculated on the average daily balance. |
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Helpful Details
Wealth Management
Meet with one of our CFS financial advisors to chat about your goals and create a retirement strategy plan that works for you.
IRS Information About IRAs
Learn more about contribution limits, deductions, tax advantages, and withdrawal restrictions.
FAQs and Tips
Quick Tip
When rates are low, stick to short terms.
This way you won’t be stuck to a low performing rate if they increase. As the rates get higher, you can feel more confident lengthening the term so you will make more money over time. Transcript
Ready to open a Peninsula Certificate or IRA account?
Disclosures
IRA Certificates are available for all terms excluding Save to Win Certificate and Specials.
* Wherever $500 is stated, $100 applies for Members 0-23 years of age.
Rates and terms are subject to change without notice. All rates quoted refer to Annual Percentage Yield (APY). Earned dividends are paid on entire balance in the account. Accounts, other than certificates, must remain open to the end of the dividend period to be paid dividends. Fees and charges may apply (and may reduce earnings) on the above accounts, please refer to the Fee Schedule for details. The Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union’s Board of Directors. Dividends are paid from current income and available earnings after providing for the required reserves and cannot be guaranteed. The Dividend Rates and Annual Percentage Yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period. Dividends will begin to accrue on the business day the deposit is made to your account. You may make unlimited withdrawals or transfers in person, by mail, or at an automated teller machine, or by telephone with a check mailed to you. NCUA – Your savings insured to at least $250,000 and backed by the full faith and credit of the United States Government by the National Credit Union Administration, a U.S. Government Agency.