Did you know?

Did you know?

The 2020 IRA contribution deadline has been extended. You have until May 17, 2021, to make contributions. All qualified contributions made to an IRA before the new deadline may reduce your federal income taxes for the 2020 contribution year.

Individual Retirement Accounts (IRAs)

It pays to plan ahead

Whether it’s for your retirement or your kids’ education, it pays to plan ahead for life’s big financial milestones. Individual Retirement Accounts (IRAs) help you invest in the future by giving you real tax breaks, along with no custodial or maintenance fees.

Certain IRAs work better for different needs and different situations, so come talk to Jovia about the IRA option that’s right for you, or take a look at some of the options we offer.

Benefits of banking with Jovia

Guaranteed High Rate

Choose a Jovia Certificate Account and lock in a guaranteed rate for terms from three months to five years. The minimum to open is just $100!

Save Money

There are no custodial or maintenance fees on our IRA accounts, and there's no fee to transfer your IRA from another institution to us. That's money in your pocket!

Rates & Terms

Term

Minimum to Open

Rate

APY

3-Month $100.00 0.296% 0.300%
6-Month $100.00 0.345% 0.350%
1-Year $100.00 0.443% 0.450%
18-Month $100.00 0.591% 0.600%
2-Year $100.00 0.492% 0.500%
30-Month $100.00 0.786% 0.800%
3-Year $100.00 0.591% 0.600%
4-Year $100.00 0.737% 0.750%
5-Year $100.00 0.982% 1.000%

How do IRAs work?

Traditional IRA

  • Reduce your taxable income. You may be able to deduct the money you invest in a Traditional IRA each year from your taxable income, which can help reduce the amount of taxes you owe each year.

Roth IRA

  • Invest after-tax money. You won't get the initial tax deduction, but you can withdraw your contributions and earnings tax-free anytime after you turn 59½.

Education IRA

  • This is a tax-deferred savings plan that allows you to set aside money for a child's education.

IRA Savings Rate

APY = Annual Percentage Yield. Assumes funds remain on deposit until maturity. Subject to change without notice. Minimum balance requirements apply. No Credit Union penalties on withdrawals on IRA for normal IRA distributions. Consult a tax advisor regarding tax penalties for IRA withdrawals before age 59 ½. Penalties and fees may reduce earnings on accounts. Ask for details.

± APY = Annual Percentage Yield. Also known as IRA Savers Dividend. Rates subject to change without notice. Fees and penalties may reduce earnings on the account. Consult with your tax advisor regarding tax deductibility. A minimum of $5 must be maintained in a Savings account to have access to all of our products and services.