Individual Retirement Accounts (IRAs)
It’s never too early to start setting aside money for your retirement! Center Parc can help grow (or start!) your nest egg with our Individual Retirement Accounts (IRAs) and certificate options.
An IRA is a personal savings plan with some added tax advantages that make it perfect for building up your retirement fund.
Enjoy your Savings
Center Parc IRAs offer three great benefits:
- You may be able to deduct your annual contributions (either in part or in whole).
- Earnings are generally not taxed until you take a distribution.
- Insurance from Excess Share Insurance Corporation protects IRAs up to an additional $250,000 and premiums are paid by Center Parc. ESI is in addition to the $250,000 in coverage provided on all shares through the National Credit Union Share Insurance Fund, bringing total coverage to $500,000.
Choose Your IRA Savings Account
Center Parc offers both Traditional and Roth individual retirement accounts. We recommend consulting a personal tax advisor before deciding which one is best for your unique retirement situation – but below is a quick guide on the differences to get you started.
Traditional IRA – You won’t pay taxes on contributions to your traditional IRA account, but you will pay taxes on the money you withdraw later.
Roth IRA – You’ll pay taxes on the contributions you make now to your Roth IRA, but you won’t pay taxes on your withdrawals later.
Both savings accounts require a $25 deposit to open and a $1 minimum balance to earn highly competitive interest rates. Dividends are compounded and saved to your account monthly.
Plus, Center Parc IRA Savings Accounts feature no annual fees and no management fees.
An IRA certificate gives you the flexibility to earn higher returns for a set period of time. The longer you commit to saving, the more you’ll earn!
- Minimum opening deposit: $2,000
- Terms from 12 to 60 months
- Competitive, fixed interest rates
- Interest compounded daily and paid quarterly
You must first open an IRA Savings Account before purchasing an IRA Certificate.
Not a member of Center Parc yet? It’s easy to apply online.