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IRAs
We offer IRA plans and investments that meet your needs!

Greylock Federal Credit Union offers a wide range of IRA products that will help make your retirement dreams come true.

  • No minimum balance is required for the Traditional IRA.
  • No monthly service fees or annual trustee fees.
  • Contributions may be made in "lump sums", by regular deposits or by payroll deductions to the IRA Share throughout the year.
  • Balance Computation Method - dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day.
  • Dividends will be compounded daily and credited to your account on the last day of each month.
  • IRA Term Share Certificates are also available with a minimum deposit of $1000 and terms of six months through five years. Higher yields are available for Jumbo IRA Term Share Certificates of $100,000 or more with six months through five year terms.
  • For Current IRA Variable and IRA Term Share Certificate rates, check out our Rate Board.
  • To compare IRA Features, check out this Quick Comparison Chart.

Traditional IRA

A traditional IRA is an account that allows you to defer taxes on your earnings until they are withdrawn. Also, certain contributions may be tax deductible in the year they are made. Consult your tax advisor for further information.

Rollover IRA

Retiring or changing jobs? Planning on directly rolling over your qualified pension plan into an IRA? If an IRA is composed entirely of one or more rollovers from a qualified pension plan, it may, at a later date be rolled back into a qualified pension plan. You can do this with our Rollover IRA. At Greylock Federal Credit Union, you can open a Rollover IRA and we will handle the Direct Rollover request from your employer. Consult your tax advisor for further information.

Roth IRA

A Roth IRA allows only nondeductible contributions but features tax-free withdrawals for certain distribution reasons after a five-year holding period. The term "tax free" means free from federal income taxes. Consult your tax advisor for further information.

Coverdell Education Savings Account (CESA)

The Coverdell Education Savings Account is a nondeductible account that features tax-free withdrawals for a very specific purpose - a child's education expenses.

These accounts were formerly known as Education IRAs, and at first glance, a CESA may look similar to traditional or Roth IRAs. Higher education distributions are also permitted from these accounts, but while qualified higher education distributions from a traditional or Roth IRA are only penalty tax free, the same distributions from a CESA are penalty free and federal income tax free.
Consult your tax or legal professional for further information regarding state or local income taxes.

IRA Term Share Certificates

Earn higher dividends with an IRA Term Share Certificate. IRA Term Share Certificates are available with a minimum deposit of $1000. Higher yields are available for deposits of $100,000 and longer terms.

*IRA Term Share Certificates subject to Greylock penalties upon early withdrawal. Please see Greylock's Truth in Savings Disclosure for details.

Have a question? Use our FAQs search...

How to Become a Member and Open Your IRA Account - It's Quick and It's Easy

  1. Fill Out and Submit Our On-Line Info Request Application and a Greylock Member Service Representative will contact your regarding your IRA plan, or:
  2. Come By One of Our Convenient Offices and meet with a friendly and knowledgeable Member Service Representative, or:
  3. Call Us to find out how easy it is to open a Greylock IRA.

  4. Available 8:30am to 4:00pm, Monday through Friday

Personal or confidential information should not be sent via email as this information is not transmitted through a secure link.


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