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Individual Retirement Accounts

Meet your long-term financial goals with one of Wescom’s IRA investment options.

Save For Your Retirement Dream

Wescom offers a variety of IRA investment options to help you start saving for your retirement future.

IRA Certificates: High-Yield Certificates with terms from 3 months through 5 years.

Money Market IRA: Earn higher rates on your IRA without locking your investment into a specific term.

Transitional IRA: Park your funds for a 3-month term while you examine your investment options after you rollover a qualified retirement plan from another financial institution.

Other Investment Options: Stock or mutual fund investments made through Wescom Financial Services.

IRA Rates

All rates are as of 11/30/2022 and are subject to change without notice. Certain conditions and restrictions may apply. Please call 1-888-4WESCOM (1-888-493-7266) for details and current rates.

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	Div. Rate	APY*
3-Month IRA (90 to 179 days)	1.88%	1.90%
6-Month IRA (180 to 364 days)	2.37%	2.40%
12-Month IRA (12 to 17 months)	2.86%	2.90%
18 Month IRA (18 to 23 months)	2.86%	2.90%
24-Month IRA (24 to 35 months)	2.86%	2.90%
36-Month IRA Certificate	2.86%	2.90%
48-Month IRA (48 to 59 months)	3.34%	3.40%
60-Month IRA (60 months)	3.59%	3.65%
Transitional IRA* (IRA ONLY)	3.34%	3.40%

Minimum Balance	Div. Rate	APY*
$1 - $9,999	0.60%	0.60%
$10,000 - $24,999	0.65%	0.65%
$25,000 - $49,999	0.70%	0.70%
$50,000 - $99,999	0.75%	0.75%
$100,000 +	0.95%	0.95%

Minimum Balance	Div. Rate	APY*
$1 - $9,999	0.70%	0.70%
$10,000 - $24,999	0.75%	0.75%
$25,000 - $49,999	0.80%	0.80%
$50,000 - $99,999	0.85%	0.85%
$100,000 +	1.04%	1.05%

	Div. Rate	APY*
3-Month IRA (90 to 179 days)	1.93%	1.95%
6-Month IRA (180 to 364 days)	2.42%	2.45%
12-Month IRA (12 to 17 months)	2.91%	2.95%
18-Month IRA (18 to 23 months)	2.91%	2.95%
24-Month IRA (24 to 35 months)	2.91%	2.95%
36-Month IRA (36 to 47 months)	2.91%	2.95%
48-Month IRA (48 to 59 months)	3.39%	3.45%
60-Month IRA (60 months)	3.63%	3.70%
Transitional IRA* (IRA ONLY)	3.34%	3.40%

Minimum Balance	Div. Rate	APY*
$1 - $9,999	0.65%	0.65%
$10,000 - $24,999	0.70%	0.70%
$25,000 - $49,999	0.75%	0.75%
$50,000 - $99,999	0.80%	0.80%
$100,000 +	1.00%	1.00%

Minimum Balance	Div. Rate	APY*
$1 - $9,999	0.75%	0.75%
$10,000 - $24,999	0.80%	0.80%
$25,000 - $49,999	0.85%	0.85%
$50,000 - $99,999	0.90%	0.90%
$100,000 +	1.09%	1.10%

	Div. Rate	APY*
3-Month IRA (90 to 179 days)	1.98%	2.00%
6-Month IRA (180 to 364 days)	2.47%	2.50%
12-Month IRA (12 to 17 months)	2.96%	3.00%
18-Month IRA (18 to 23 months)	2.96%	3.00%
24-Month IRA (24 to 35 months)	2.96%	3.00%
36-Month IRA (36 to 47 months)	2.96%	3.00%
48-Month IRA (48 to 59 months)	3.44%	3.50%
60-Month IRA (60 months)	3.68%	3.75%
Transitional IRA* (IRA ONLY)	3.34%	3.40%

Minimum Balance	Div. Rate	APY*
$1 - $9,999	0.70%	0.70%
$10,000 - $24,999	0.75%	0.75%
$25,000 - $49,999	0.80%	0.80%
$50,000 - $99,999	0.85%	0.85%
$100,000 +	1.04%	1.05%

Minimum Balance	Div. Rate	APY*
$1 - $9,999	0.80%	0.80%
$10,000 - $24,999	0.85%	0.85%
$25,000 - $49,999	0.90%	0.90%
$50,000 - $99,999	0.95%	0.95%
$100,000 +	1.14%	1.15%

*APY = Annual Percentage Yield. Rate is accurate as of 11/30/2022 and is subject to change without notice. The APY assumes dividends remain on deposit until maturity. Minimum balance to obtain APY is $500.00. Minimum opening deposit to obtain APY is $500.00. Fees could reduce the earnings on the account. A penalty may be imposed for early withdrawal.

Roth IRA

With a Roth IRA, contributions are not tax-deductible, but all distributions from the IRA are tax-free. In fact, with a Roth IRA, you can take qualified tax-free distributions as soon as five years after your first contribution. Qualified distributions include those:

For first-time home buyer expenses, up to $10,000
After reaching age 59 ½
In the event of death or disability

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Stay On Track For Retirement

Open a Roth IRA with Wescom and take advantage of after-tax benefits as you save for retirement.

With the Roth IRA, you do not have to take a minimum distribution when you reach age 72.

Singles earning less than $124,000 per year, or couples filing jointly earning less than $196,000 annually, can contribute up to $6,000 per year (including contributions to other IRAs); those contributions phase out at higher income levels.

To enable older participants to “catch up” with their retirement savings, individuals 50 and older can contribute $7,000 per year.

Is a Roth IRA Right For You?

You may be wondering if you should roll your existing IRAs into Roth IRAs. As a general rule, the Roth IRAs’ tax-deferred compounding benefits younger workers most, but ask your tax advisor for advice about your specific situation. To find out more about the IRA options that are right for you, give us a call at 1-888-4WESCOM (1-888-493-7266).