Rates
12 Month Certificate - 3.95% apy*
5 Year Bonus Certificate - up to 3.05% apy*
Money Market Rates -
up to 3.00% apy*
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Retirement Accounts: Traditional & Roth IRAs
Earn more on your retirement savings and secure a brighter financial future.
Planning your retirement can feel overwhelming—but we can help. With extensive knowledge of both Traditional and Roth IRAs and some of the highest deposit rates in Schuylkill County, we're dedicated to helping you make informed decisions that support your long-term financial goals. A secure future begins with knowing your options.
Let's explore the differences between a Traditional and Roth IRA together.
Traditional IRA | |||
Save now and pay your taxes later. A smart choice if you expect to be in a lower tax bracket after retirement or just want to see a bigger check on your tax returns. | |||
Roth IRA | |||
Pay taxes now and enjoy tax-free withdrawals in retirement. Ideal if you expect to be in a higher tax bracket later—or want the peace of mind that comes with tax-free income in the future. | |||
Traditional IRA
Take Advantage of upfront tax savings.
A Traditional IRA is a great option for lowering your current tax bill while saving for retirement.
Contributions may be tax-deductible, and your earnings grow tax-deferred—meaning no taxes owed until you make your withdrawals. Since withdrawals are taxed as ordinary income, planning can help you make the most of your retirement savings.
Here are some additional details about Traditional IRAs:
- No minimum deposit to open
- Earn tax-deferred dividends (1)
- Contribute up to $7,000 per year (2)
- Start penalty-free withdrawals at age 59½
(1) Minimum required balance of $50.00 to earn the stated Annual Percentage Yield.
(2) May contribute $8,000 if you’re 50 years of age or older.
Roth IRA
Save now and enjoy tax-free money later.
A Roth IRA offers a unique advantage: you pay taxes on your contributions now, so you can enjoy tax-free withdrawals in retirement.
Picture the peace of mind that comes with knowing you can enjoy your hard-earned money and not worry about taxes later. Plus, the earlier you start saving for retirement, the more time your money has the potential to grow through the power of compound interest.
Here are some additional details about Roth IRAs:
- No minimum deposit to open
- Earn tax-deferred dividends (1)
- Contribute up to $7,000 per year (2)
- Qualified withdrawals are tax- and penalty-free after age 59½ and five years of account ownership
(1) Minimum required balance of $50.00 to earn the stated Annual Percentage Yield.
(2) Contributions to Roth IRAs are subject to MAGI limits. May contribute $8,000 if you’re 50 years of age or older.
Why should I plan for my retirement?
It's not easy to think about saving for the future with so many uncertainties out there. By thinking ahead, you could tap into some great benefits, such as:
Tax Credits |
Take advantage of the Saver’s Credit to potentially reduce your tax bill by contributing to your IRA, if you meet income and eligibility requirements. |
Tax Savings |
Benefit from tax savings with pre-tax contributions and tax-deferred growth or tax-free growth and withdrawals, helping you save more for the future. |
Retirement Income |
Plan for a steady retirement income with retirement options designed to help you build long-term savings and secure your future. |
Flexible Withdrawals |
You may be able to withdraw your funds early penalty-free under specific circumstances. |
IRA Rates
Effective as of 01/08/2025
IRA Regular Shares
| Type | Rate | APY* |
|---|---|---|
| IRA Shares | 1.00% | 1.00% |
*APY = Annual Percentage Yield
The Annual Percentage Yield is subject to change. No Minimum deposit amount required to open the account. Minimum required balance of $50.00 to earn the stated Annual Percentage Yield. Fees or other conditions may reduce earnings. The APY is based on an assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings. Contact the Credit Union for more information.
IRA Share Certificates
| Term | APR* | APY** |
|---|---|---|
| 3 Months | 4.13% | 4.20% |
| 6 Months | 4.07% | 4.15% |
| 9 Months | 3.93% | 4.00% |
| 12 Months | 3.88% | 3.95% |
| 18 Months | 3.74% | 3.80% |
| 24 Months | 3.59% | 3.65% |
| 30 Months | 3.15% | 3.20% |
| 36 Months | 3.15% | 3.20% |
| 42 Months | 3.15% | 3.20% |
| 48 Months | 3.01% | 3.05% |
| 54 Months | 3.01% | 3.05% |
| 60 Months | 3.01% | 3.05% |
| 120 Months | 3.01% | 3.05% |
*APR = Annual Percentage Rate
**APY = Annual Percentage Yield
The dividend APR and APY are fixed and will be in effect for the term of the account. Minimum deposit required to open an account $500.00 to earn the stated Annual Percentage Yield. Fees or other conditions may reduce earnings. The APY is based on an assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings. We may impose a penalty if you withdrawal any of the principal before the maturity date. Contact the Credit Union for more information.
Bonus IRA Share Certificates
| Term | APR* | APY** |
|---|---|---|
| 24 Months | 3.59% | 3.65% |
| 36 Months | 3.15% | 3.20% |
| 48 Months | 3.01% | 3.05% |
| 60 Months | 3.01% | 3.05% |
| 120 Months | 3.01% | 3.05% |
*APR = Annual Percentage Rate
**APY = Annual Percentage Yield
The dividend APR and APY are fixed and will be in effect for the term of the account. Minimum deposit required to open the account $5,000.00 to earn the stated Annual Percentage Yield. Fees or other conditions may reduce earnings. The APY is based on an assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings. We may impose a penalty if you withdrawal any of the principal before the maturity date. Contact the Credit Union for more information.
How to Open the CACL Financial Retirement Account
Start saving for a brighter retirement in three simple steps:
Become a Member | |||
Step 1 | If you’re not already a member, you’ll need to join us first! Complete our online application or visit a branch for in-person assistance. | ||
Contact a CACL Representative | |||
Step 2 | Reach out to us to open a Traditional or Roth IRA. We'll guide you through the process and help you get started. | ||
Start Saving! | |||
Step 3 | You're all set to begin contributing to your IRA and building your retirement nest egg. | ||
Testimonials
"I've had my current account with CACL since 1980. That's 40 years of incredible service, friendly staff, good rates, compassionate banking and trust. I've never had an issue that couldn't be resolved. As times have changed, services have kept pace. I use online banking several times a week (most of the time, I log in daily) and have no issues. I love my little credit union and am grateful to have such a partner looking out for my financial health."
- Chrissy S.
Retirement Account FAQs
| What is a Traditional IRA? |
|---|
| A Traditional IRA allows you to save for retirement with tax-deferred earnings and the possibility of tax-deductible contributions. |
| When can I withdraw money from my Traditional IRA? |
| You can withdraw funds at any time, subject to income tax. An IRS penalty tax also may apply unless you are age 59 ½ or older. If you are age 73 or older, you must make a required minimum distribution each year to avoid penalty taxes. |
| When will I have to pay tax? |
| When you withdraw money from your Traditional IRA, you must include any previously deductible amounts, along with any earnings, in your taxable income for the year. Note that if you previously made any nondeductible contributions or rolled over nondeductible amounts from a retirement plan to your IRA, a portion of each Traditional IRA distribution will be treated as the nontaxable return of these dollars. |
| What is a Roth IRA? |
| A Roth IRA is an individual retirement arrangement that allows you to make after-tax (nondeductible) contributions with the potential to take completely tax-free distributions. |
| When can I withdraw money from my Roth IRA? |
| You can withdraw funds from your Roth IRA anytime. Depending on when you take the money out and what type of Roth IRA assets (contributions, conversion/rollover amounts, or earnings ) are included in the distribution, you may be subject to income tax and an IRS penalty tax. But if you have a “qualified distribution” all assets are tax and penalty free. |
| Can I roll over other retirement plan assets to my Roth IRA, or roll over my Roth IRA to another retirement plan? |
| Eligible assets from most retirement plans, such as your 401(k) plan, can be rolled over to Roth IRAs. Check with your plan administrator. Your Traditional IRA and SIMPLE IRA assets also can be moved to your Roth IRAs; however, you are not allowed to roll over Roth IRA assets to an employer- sponsored retirement plan. Under certain circumstances, a Roth IRA contribution can be recharacterized as a Traditional IRA contribution. |
