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Individual Retirements Accounts (IRAs)

Get the most out of your retirement dollars and start saving now.

There’s benefits to retiring with Lafayette Federal.

No matter how far off retirement seems to be, it’s a good idea to take advantage of our IRA services.

IRA Account Options

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Traditional IRAs

Annual contributions to this type of IRA may be partially or fully tax-deductible in the year in which they are made. Distributions from a traditional IRA are generally taxable upon withdrawal. To learn more, visit our IRA Service Center.

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Roth IRAs

While Roth IRA contributions are not deductible during the year in which they are made, distributions can generally be taken tax-free. To learn more, visit our IRA Service Center.

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IRA Savings Accounts

Whether you’re looking for a Share Savings Account or Fixed Rate Certificate, we offer several different options to meet your needs for retirement.

Today’s rates

IRA Savings Account

Min. to Open

Min to Earn APY1

Dividend

APY1

Savings Account dividends are compounded and paid quarterly on the first day of the next dividend period. Dividend Rates and APYs are variable and are subject to change. Certain fees and charges may apply to your share account as disclosed in the current Schedule of Fees. Assessed fees may reduce earnings. 1APY=Annual Percentage Yield.

The rates and terms shown are effective as of December 1, 2023.

Min. to Open

$50

Min to Earn APY1

N/A

Dividend

3.90%

APY1

3.96%

IRA Fixed-Rate Certificate

Fixed-Rate1

Min. to Open

Min. to Earn APY2

Dividend

APY2

1Early withdrawal penalties may apply. Rates subject to change without notice. Certificates will automatically renew upon maturity unless otherwise stipulated by the member. Fixed Certificate Account dividends are compounded and paid quarterly on the first day of the next dividend period. Must establish membership with Lafayette Federal Credit Union, or be an existing member. $50 minimum balance required to open and earn 0.10% APY2 on Lafayette Federal share savings account balances. $5 minimum balance required to open and earn 0.025% APY2 on LFCU checking account balances. 2APY=Annual Percentage Yield.

The rates and terms shown are effective as of December 1, 2023.

Fixed-Rate1

1-year term

Min. to Open

$500

Min. to Earn APY2

$500

Dividend

5.45%

APY2

5.56%

Fixed-Rate1

2-year term

Min. to Open

$500

Min. to Earn APY2

$500

Dividend

5.10%

APY2

5.20%

Fixed-Rate1

3-year term

Min. to Open

$500

Min. to Earn APY2

$500

Dividend

5.00%

APY2

5.10%

Fixed-Rate1

4-year term

Min. to Open

$500

Min. to Earn APY2

$500

Dividend

4.65%

APY2

4.73%

Fixed-Rate1

5-year term

Min. to Open

$500

Min. to Earn APY2

$500

Dividend

4.45%

APY2

4.53%

IRA Variable-Rate Certificate

Variable-Rate*

Min. to Open

Min. to Earn APY2

Dividend

APY2

1Early withdrawal penalties may apply. Rates subject to change without notice. Certificates will automatically renew upon maturity unless otherwise stipulated by the member. Variable Certificate Account dividends are compounded and paid quarterly on the first day of the next dividend period. Must establish membership with Lafayette Federal Credit Union, or be an existing member. $50 minimum balance required to open and earn 0.10% APY2 on Lafayette Federal share savings account balances. $5 minimum balance required to open and earn 0.025% APY2 on LFCU checking account balances. 2APY=Annual Percentage Yield.

The rates and terms shown are effective as of December 1, 2023.

Variable-Rate*

18-month term

Min. to Open

$50

Min. to Earn APY2

$50

Dividend

4.30%

APY2

4.37%

Variable-Rate*

3-year term

Min. to Open

$50

Min. to Earn APY2

$50

Dividend

4.25%

APY2

4.32%

Variable-Rate*

5-year term

Min. to Open

$50

Min. to Earn APY2

$50

Dividend

4.00%

APY2

4.06%

Our members say the nicest things.

My boyfriend started this account back in the 70s! Here we are married 45 years and we still depend on LFCU. Bought the engagement ring, paid for the babies, got the mortgage, enjoying for retirement trips. Thanks LFCU.

Sarah B. Member

Get help planning for retirement.

Figuring out what it takes to get to the finish line can be a daunting task.

Whether you’re just getting started or looking to make some changes to your existing plan, we’re here to make sure you have all the tools you need with Retirement Central®. Learn more about your retirement options and explore the differences between each IRA account.

Explore Retirement Central

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