Retirement
Make your retirement dreams a reality.
IRAs
Whether you’re just starting out, or looking to retire, NextMark has the tools to guide you on your journey.
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Traditional IRA
Tax-deferred contributions & earnings for any working member under the age of 70.5. Contribution max of $6,000 plus $1,000 “catch-up” contribution for members over 50.
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Roth IRA
Non-deductible contributions & tax-deferred earnings. Distributions can be tax & penalty free¹. Members can contribute to Roth IRAs for as long as they like and there are no minimum required distributions with a Roth IRA.
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Coverdell Education IRA
Perfect for funding a student’s education. Contributions are not tax-deductible. Earnings are tax-deferred and will not be subject to tax.² Max annual contribution is $2,000 and may be made by any taxpaying family members or friends.
Your Funds Are Safe
The National Credit Union Administration (NCUA) operates the National Credit Union Share Insurance Fund (NCUSIF) to protect accounts at federally insured credit unions up to $250,000. Traditional IRA accounts and Roth IRA accounts are added together and insured up to an additional $250,000. Coverdell Education Saving Accounts are insured as irrevocable trust accounts and will be added to a member’s other irrevocable trust accounts and insured up to $250,000.
Simplified Employee Pension Plans
SEP accounts follow the same contribution, distribution and rollover rules as traditional IRAs. This plan allows business owners a way to contribute toward their employees’ as well as their own retirement savings.
Current rates
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Term |
Min. to Open |
Dividend Rate |
APY** |
|---|---|---|---|
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*Please visit your local branch to open IRA Certificates. **APY=Annual Percentage Yield. Penalty fees may be incurred for early withdrawals from share certificates. Fees could reduce earnings. Rates effective as of 10/30/2024. Rates subject to change without notice. |
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Term 3 Months |
Min. to Open $500 |
Dividend Rate 0.90% |
APY** 0.90% |
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Term 6 Months |
Min. to Open $500 |
Dividend Rate 1.88% |
APY** 1.90% |
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Term 9 Months |
Min. to Open $500 |
Dividend Rate 3.11% |
APY** 3.15% |
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Term 12 Months |
Min. to Open $500 |
Dividend Rate 3.35% |
APY** 3.40% |
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Term 24 Months |
Min. to Open $500 |
Dividend Rate 2.87% |
APY** 2.90% |
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Term 36 Months |
Min. to Open $500 |
Dividend Rate 2.47% |
APY** 2.50% |
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Term 48 Months |
Min. to Open $500 |
Dividend Rate 2.47% |
APY** 2.50% |
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Term 60 Months |
Min. to Open $500 |
Dividend Rate 2.72% |
APY** 2.75% |
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Term 72 Months |
Min. to Open $500 |
Dividend Rate 2.72% |
APY** 2.75% |
|
Term |
Min. to Open |
Dividend Rate |
APY** |
|---|---|---|---|
|
*Please visit your local branch to open IRA Certificates.**APY=Annual Percentage Yield. Penalty fees may be incurred for early withdrawals from share certificates. Fees could reduce earnings. Rates effective as of 10/30/2024. Rates subject to change without notice. 1If you wish to open a new 24 month certificate, we are currently offering the Bump-Up Twice option. Current 24 month certificate holders will be rolled into the same product upon maturity.
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Term 3 Months |
Min. to Open $2,500 |
Dividend Rate 1.00% |
APY** 1.00% |
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Term 6 Month Propel |
Min. to Open $2,500 |
Dividend Rate 1.98% |
APY** 2.00% |
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Term 9 Month Explore |
Min. to Open $2,500 |
Dividend Rate 3.20% |
APY** 3.25% |
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Term 12 Month Thrive |
Min. to Open $2,500 |
Dividend Rate 3.45% |
APY** 3.50% |
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Term 24 Months1 |
Min. to Open $2,500 |
Dividend Rate 2.96% |
APY** 3.00% |
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Term 36 Months |
Min. to Open $2,500 |
Dividend Rate 2.57% |
APY** 2.60% |
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Term 48 Months |
Min. to Open $2,500 |
Dividend Rate 2.57% |
APY** 2.60% |
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Term 60 Months |
Min. to Open $2,500 |
Dividend Rate 2.81% |
APY** 2.85% |
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Term 72 Months |
Min. to Open $2,500 |
Dividend Rate 2.81% |
APY** 2.85% |
Staff are knowledgeable about the IRA accounts and IRS regulation regarding IRA accounts. They demonstrate honesty, service, comfort, accessibility, and security.
— Mujahid Member since 2006
Let’s get started
Stop by one of our branches or call us at (703) 218-9900.
Disclosures
¹Distributions can be tax and penalty free as long as it’s been 5 years since your first contribution and there is a qualifying event such as reaching the retirement age of 59 ½. Fees may reduce earnings on account, and penalty fees may be incurred for early withdrawals. Please consult a tax advisor for tax information.
²Earnings are tax-deferred and will not be subject to tax as long as the funds are not greater than the student’s educational expenses and are distributed to an eligible educational institute. Any money withdrawn that is not for the student’s educational expenses are subject to tax and penalty. Unused funds can be rolled over to an Education IRA for another child.