Too Good To Be True?

YieldSearch | Sep 13, 2019 | 5 posts since 2019

Has anyone setup an IRA Saving account here?

It appears to be paying 3% .... no limits specified or am I missing something

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Answers

Hooked | Sep 13, 2019 | 236 posts since 2019

Yes, you are missing something...the name of the FI.

YieldSearch | Sep 16, 2019 | 5 posts since 2019

Latino Credit Union

willy12 | Sep 16, 2019 | 143 posts since 2019

IRA
Minimum Deposit Interest Rate APY*
Roth, Traditional & Simplified Employee Pension (SEP) $25.00 3.00% 3.05%

Seems legit.

CuriousDave | Sep 16, 2019 | 233 posts since 2018

What type of IRA investment - savings accounts? 12 mo CD? 60 mo CD? If for CD, what is the EWP?

YieldSearch | Sep 17, 2019 | 5 posts since 2019

IRA Savings

Sylvia | Sep 18, 2019 | 389 posts since 2012

Some general things to consider: (1) The rate comes with no guarantee, (2) It's higher than any of the CU's CD rates, (3) Moving money in and out of IRAs is no easy task. If the rate drops soon after you opened account, you couldn't quickly move funds to another CU as with the non-IRA share savings account.

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