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Certificates & IRA’s

Share Certificates and IRA’s offer you safety and peace of mind. They are a great way to earn higher dividends on your hard-earned money. Federally insured up to $250,000 by the National Credit Union Administration, deposits are fully backed by the faith and credit of the US Government. Blackhawk offers the following investment options:

Share Certificates Smart Saver Certificate Individual Retirement Accounts (IRA’s)
Description Share Certificates (Certificates) allow members to earn higher rates of interest by agreeing to leave their funds on deposit for a specified time period. Smart Saver Certificates are available to members under the age of 24 or that have automatic transfer/direct deposit going to the CD. Members can continue to add deposits to their Smart Saver certificate anytime during the term and can take one withdrawal during the term of the CD without a penalty. IRAs are designed to help you save for retirement. The credit union offers Traditional and Roth IRAs, which can be an Indexed IRA, variable IRA or fixed certificate of deposits. Coverdell Education savings accounts are available and are a savings account with special tax exemptions. The Coverdell accounts can also be put into the indexed, variable or IRA CD account.
Minimum Balance Regular: $1,000
Jumbo: $10,000
$5.00 Variable Rate IRA: None
Fixed Rate IRA Certificate: $1,000
Indexed IRA: $1,000
IRA Jumbo Certificate: $10,000
Monthly Maintenance Fee None None None
Terms 90 days to 5 years  3 to 12 months Certificates: From 6 to 60 months
IRA’s: N/A
Deposits Not permitted, except at maturity. Permitted at any time. Deposits limited by IRS annual limits.
Withdrawal Penalty Certificates withdrawn prior to maturity will incur an early withdrawal penalty. One year or less, penalty is 90 days interest, and greater than one year is 180 days interest. One early withdrawal permitted per term. Subsequent withdrawals, withdrawn prior to maturity, will incur an early withdrawal penalty. One year or less, penalty is 90 days interest and greater than one year is 180 days interest. Permitted according to IRS regulations and subject to IRS penalties. Early withdrawal penalties do not apply to withdrawals made after the death of any owner of the account or to satisfy the Required Minimum Distribution after the member has attained the age of 70 1/2.
Renewal Members have a 10-day grace period from the date of maturity to change their renewable term share certificates. An unchanged account will automatically renew for another term, at the current rate offered (term will roll up to the closest rate), on its maturity date. Members have a 10-day grace period from the date of maturity to change their renewable term share certificates. An unchanged account will automatically renew for another term, at the current rate offered (term will roll up to the closest rate), on its maturity date. N/A