Banking FAQs: Certificates & IRAs

FAQs

The paperwork you need to open a new IRA or service an existing IRA is available through the IRA Service Center. For more information, click here.
It’s easy! If you’re already a PSECU member, log into online banking and choose “Open a Certificate” on your “Balances” page. If you’re new to PSECU, choose “Open Account.” We’ll guide you through the quick and easy process of joining us and opening an account. After that, you’ll be able to easily transfer funds into a certificate.

Contributions to a Traditional IRA may be tax deductible in the year for which the contribution was made.  Contributions to a Roth IRA are made with money that has already been taxed.  Earnings on a Traditional IRA are tax deferred.  Earnings on a Roth IRA are tax free if withdrawn for a qualifying event.  Click here for more information on PSECU’s IRA products, to open a new IRA, or to service an existing IRA. IRA comparisons.

Annual contributions can be withdrawn at any time without IRS penalty.  In order to withdraw earnings tax and IRS penalty free, the Roth IRA must be open for 5 years and the withdrawal must be made for one of the following reasons:  Age 59 1/2, death, disability or a first home purchase. Click here for more information on PSECU’s IRA products, to open a new IRA, or to service an existing IRA.

Unlike a Traditional IRA, you will not be required to make withdrawals from your Roth IRA. Click here for more information on PSECU’s IRA products, to open a new IRA, or to service an existing IRA.

Currently, PSECU does not sell U.S. Savings Bonds; however, the following Savings Bonds can be redeemed at PSECU offices: E/EE, I Savings Notes, A, B, C, D.