IRA Savings Account
IRAs-secure your financial future for years to come.
Prepare for your retirement by opening an IRA at Westmark. You have a choice of a high yielding IRA Savings Account or IRA Term Certificates ranging from 90-days to 60-months. At Westmark, you pay no transaction or set-up fees. Your IRA is federally insured separately from your other account balances by the National Credit Union Administration (NCUA) up to $250,000.
If you are contemplating a 401K transfer or a rollover from a qualified retirement plan, we can provide efficiency and peace of mind with that transaction. Westmark will report the rollover contribution on a tax form 5498.
IRA Saving Features
- Dividends are calculated on a daily balance and compounded monthly.
- No minimum balance requirement.
- Unlimited deposits, not to exceed your maximum contribution amount.
- Direct transfers or rollovers from other plans accepted.
- Special dividend rate.
- Eligible for monthly, quarterly, or annual distribution when you reach age 59 ½ or older.