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• Credit Union IRA Specials February 2010

  The following credit unions are offering special rates on Individual Retirement Accounts. You can make an individual comparison from the list below if you are serious about saving for retirement.

  1. IC Federal Credit Union offers the following IRA Specials:

  • 1 year IRA – 2.03% or 2.05%APY
  • 18 month IRA – 2.27% or 2.30%APY

  2.  Navy Federal offers the following IRA special rates:

  • 1 year IRA – 3.25%APY ($50 minimum deposit)
  • 7 year IRA – 4.10%APY ($1,000 minimum deposit)
  • 30 months IRA – 2.75%APY ($18,000 minimum deposit)

  3. Ohio University Credit Union offers an IRA Certificate Special at 3.50%APY. You pick your term of 50 to 60 months.

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• IRA CD Rates in Indiana February 2010

  Following are the IRA CD rates offered by some banks in Indiana for February 2010. Note that the rates are subject to change. The highest rate is a 60 month IRA CD/5 year IRA at 3.00%APY offered by Garrett Savings Bank and Indiana First Bank.

  1. Terre Haute Savings Bank

  Product	Average Percentage Yield	Minimum Deposit
  12 month fixed	1.25%	$500.00
  18 month variable	1.25%	$10.00
  18 month fixed	1.30%	$500.00
  24 month fixed	1.40%	$500.00
  30 month fixed	1.50%	$500.00
  36 month fixed	1.70%	$500.00
  48 month fixed	1.85%	$500.00
  60 month fixed	2.25%	$500.00

  2. Indiana First Bank - http://www.infirstbank.com/home/rates#ira

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• Hancock Bank IRA Rates

  Hancock Bank, a Florida based bank, is offering Certificate of Deposit IRA with very competitive rates. The rates below applies to IRAs opened through CDs. Minimum balance required to open is $1,000.

  • 6 months – 1.60%APY
  • 1 year  – 2.00%APY
  • 18 months  – 2.25%APY
  • 2 years – 2.40%APY
  • 3 years – 2.50%APY
  • 4 years – 2.75%APY
  • 5 years – 3.00%APY

  The 5 year term IRA rate is quite tempting. However, your money will be tied up in the bank for 3 long years. No one knows when the IRA rate increases so perhaps the best strategy, for the meantime, is to go for a short term. Ideally, most people would go for a 1 year term, which is not bad. Hancock Bank’s 1 year IRA rate is currently at 2.00%APY which is way above the 12 month bank IRA rates offered in California for January 2010.

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