Individual Retirement Account

Time flies. The next chapter of your life will be here before you know it. Whether you plan to take it easy in retirement or try something new, a CoVantage IRA can provide the income to keep you comfortable.

Three keys to a great retirement? Plan. Invest. Enjoy.

At CoVantage, we wish you good health as the decades pass and you move toward your senior years. We also wish you good fortune. Our members in Wisconsin, Michigan and beyond can build their retirement nest eggs with Traditional IRAs, Roth IRAs and Education IRAs that offer unique tax advantages and plenty of deposit and investment options.

  • Invest up to $6,000 a year if you're under 50. (The limit increases to $7,000 after that.)
  • Traditional IRAs can offer tax deductions for every year that you make contributions.
  • With Roth IRAs, balances grow tax-free, and withdrawals are tax-free.
  • IRA deposits can often be used for higher education expenses.
  • Investment options include an Open Deposit Account. After an initial $10 minimum deposit, dividends are compounded monthly and paid on the daily balance.
  • Another option is Share Certificates. A $1,000 minimum deposit is required for terms of 12, 24, 36, 48 and 60 months. A $5,000 minimum deposit is necessary for 3- and 6-month terms.
  • Track your account growth with online and mobile banking tools.

IRA Certificate Rates

Annual Percentage Yields (APY) effective 06/24/2021 and subject to change. APY (Annual Percentage Yield) refers to the interest paid on a dividend account over a year’s time. Unlike Rate, APY reflects interest paid on interest. This is why APY is higher than Rate. A penalty may be imposed for early withdrawal. Compounded quarterly. See all rates.

Term Rate APY Minimum Deposit
60 Month 0.996% 1.00% $1000.00
48 Month 0.798% 0.80% $1000.00
36 Month 0.698% 0.70% $1000.00
24 Month 0.599% 0.60% $1000.00
12 Month 0.499% 0.50% $1000.00
6 Month 0.250% 0.25% $5000.00
3 Month 0.250% 0.25% $5000.00

Next Steps