6.00% IRA Savings Account at Ohio University Credit Union
Mar 14, 2007 - 9:14 AM by Ken Tumin
Ohio University Credit Union is offering a new product called the Easy Save IRA Account which has a 6% APY that's good through January 2008. It has no minimum requirement. In addition to this IRA special, the credit union has some competitive rates on its CDs including a 5.60% APY 60-month CD, a 5.35% APY 28-month CD and a 5.20% APY 16-month CD. All have a minimum deposit of $500.
In addition to Ohio University employees, alumni and students, the field of membership includes members of several associations including the Ohio University Friends of the Libraries which has a $30 membership fee. Membership into the credit union requires a $10 minimum deposit into the share savings account.
The credit union is federally insured by the NCUA. It has $188.7 million in assets and 22,445 members.
In addition to Ohio University employees, alumni and students, the field of membership includes members of several associations including the Ohio University Friends of the Libraries which has a $30 membership fee. Membership into the credit union requires a $10 minimum deposit into the share savings account.
The credit union is federally insured by the NCUA. It has $188.7 million in assets and 22,445 members.
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Jouissance (anonymous) - #1, Thursday, March 15, 2007 - 5:32 PM
I'm a big fan of this site, but I would never recommend a fixed rate IRA. 6% for a retirement investment is a pretty low level of return.
Banking Guy (anonymous) - #2, Saturday, March 17, 2007 - 2:03 PM
For long term investments, it is probably best to take some risk and go with stock/bond mutual funds or similar investments. But for those who are already near or in retirement, CDs or high yield savings accounts may be a reasonable part of their portfolio. Several of my readers have been interested in CD IRAs. 6% is very high in terms of a banking type product.
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