Individual Retirement Accounts

 It’s never too late to start investing in your future. Toro Credit Union makes it easy to plan for your retirement savings with Traditional or Roth Individual Retirement Accounts (IRAs), as well as Educational IRAs, which can be used to save for college expenses.

  • Traditional IRAs allow earnings to grow tax-deferred until they’re withdrawn.
  • Roth IRAs provide a non-deductible alternative to traditional retirement savings. Contributions are made with after-tax dollars.
  • Education IRAs are non-deductible accounts which feature tax-free withdrawals for education
  • Invest in Savings or a Certificate of Deposit Account.
  • Certificates are 12, 24, or 36 months, including the Step-Up
  • We accept regular contributions, rollovers, and transfers from other qualified retirement plans.
  • Dividends are paid quarterly, and you just need a balance of $5 to earn dividends.
  • IRA deposits are separately insured up to at least $250,000 by NCUA.

IRA Accounts must be opened in person at the credit union.  



Share Certificates of Deposit are a great way to save and earn dividends.

  • Available in terms of 6 to 36 months
  • Open a Share Certificate with as little as $500
  • Dividends are compounded and credited quarterly
  • Special rates Share Certificates over $25,000
  • Automatically renewable upon maturity with a 10-day grace period to redeem
  • Increase your rate with a Step-Up Share Certificate one time during the term ($1,000 minimum to open, 24-month and 36-month terms available)
  • Penalty for early withdrawal on all certificates



How to purchase a share certificate online:

  1. Login to It’sME247 Online Banking
  2. Click “New Accounts”
  3. Click “See Available Certificates”
  4. Click “Purchase Online” on the same line as the type of certificate you wish to purchase.