Why XCEL OnLine Branch Products & Services Loan Center Information Desk
CDs and IRAs
Better Rates and Varying Terms for Fast-Growth and Flexibility.
  • CDs may be for current dividends or designated as an IRA CD for tax-deferred dividends. Qualified rollover IRAs may also be designated as IRA CDs.
     
  • An IRA may also be a savings account with tax-deferred dividends and rolled over when the minimum for IRA CD is accumulated.
     
  • Maximum annual deposit to IRA CD or savings for 2005 - 2007 is $4,000. This contribution limit will increase to $5,000 in 2008. No maximum deposit on current dividend CDs.
     
  • Catch-up contributions may be made to IRAs if you are age 50 or older. Contributions, including catch-ups of up to $500, can be made to traditional IRAs for 2005 until April 15, 2006. The 2006 and thereafter maximum catch-up contribution is $1,000.
     
  • Minimum deposit to IRA savings by payroll deduction is $5. Deposits may also be made with bank-by-mail envelopes and in person.
     
  • CDs, IRA CDs and IRA savings federally insured up to $100,000 as part of your total member deposits.
Available terms: 91 days, 6-, 12-, 24-, 36-, 48-, 60-month
Minimum CD and IRA - $500
Minimum Jumbo CD - $20,000
Early withdrawal may result in a penalty.