Personal Accounts We designed our products & services with YOU in mind!

If you would like to invest your money, we can help. We offer competitive rates, simple forms and the comfort of insured deposits.

• Regular Share Certificate – Opening deposit can be $500 - $9,999.99
• Jumbo Share Certificate – Opening deposit of $10,000 or greater
• Various rates & terms available
• Fixed annual percentage yields (APY)
• Dividends posted monthly
• Simple interest calculations
• Dividends can be mailed to member, transferred to another Pelican account or capitalized
• Penalty of dividends for partial withdrawal or closure of CD before maturity

Click here to view our available share certificates.

An Individual Retirement Account (IRA) is an account that allows you to save money for retirement with possible tax-advantages and possible tax free earnings.

• Regular IRA – Opening deposit of $1,000 - $9,999.99
• Jumbo IRA – Opening deposit of $10,000 and up
• Rate and term specials available
• Dividends will be capitalized
• Contributions may be made through payroll deduction or deposit
• Distributions for RMD (70.5 years old) may be distributed by check, withdrawal or automatic transfer to another Pelican account
• Penalty of dividends for a partial withdrawal or closure without a qualified reason
• Dividend rate is fixed for duration of IRA Certificate
• Simple interest calculated & posted monthly
• NCUA insured up to $250,000

Click here to view our available IRA Certificates.

Pelican State Credit Union offers Coverdell (ESA), Traditional, and Roth IRAs. The following information may assist you in determining which may be the right IRA for you.*

Coverdell (ESA)

The sole purpose of establishing a Coverdell Educational Savings Account is to help members fund educational expenses for a child. Educational expenses include public, private or parochial elementary, secondary, or post-secondary expenses. Earnings (dividends) are TAX FREE if the earnings are used for qualified educational expenses and are taxable to the child (not the parent or the contributor) if the earnings are withdrawn for another purpose. A Coverdell Educational Savings Account encourages affordable, easy-to-manage, regular savings program for parents, and even grandparents may fund the account. Because Coverdell Savings Accounts are flexible, the funds can be moved from one family member’s account to another eligible family member’s account in the event another child needs funding for educational expenses. The maximum contributions to a Coverdell Educational Savings Account for one child cannot exceed $2,000.00 per year, regardless of who makes the contribution. There are no age requirements to contribute to a Coverdell Educational Account; however the individual making the contribution must meet the income limits illustrated in the table below in order for the contribution to be allowable.

Traditional

A Traditional IRA is a type of retirement plan that has been in existence since 1975. Traditional IRAs offer tax-deferred earnings and the possibility of having tax-deductible contributions. These tax advantages make the Traditional IRA a powerful tool in creating a balanced, long term savings plan. Members may contribute to a Traditional IRA if the member has earned compensation and if the member will not reach age 70-1/2 in the tax year of the contribution. Earnings (dividends) accrued in a Traditional IRA are not taxed until they are withdrawn. The ability to defer taxes on the earnings and to withdraw in a year when you may be in a lower tax bracket may mean more after-tax dollars for your retirement. The annual contribution limits for Traditional and Roth IRAs are illustrated in the table below.

Roth

Roth IRAs offer unique and exciting savings opportunities and gives members an easy and safe way to plan for the future. A Roth IRA is an individual retirement account created by the Taxpayer Relief Act of 1997. Roth IRAs offer different incentives compared to Traditional IRAs to boost your retirement savings. Unlike Traditional IRAs, contributions to a Roth IRA are never tax-deductible and there isn’t an age requirement to contribute. However, the money contributed to a Roth IRA, including earnings (dividends), can be withdrawn tax-free! Of course a member must conform to certain tax requirements to receive this tax-free advantage. A Member is eligible to contribute to a Roth IRA if the member has earned compensation and has a certain income limit set by the United States Government. The contribution limits are listed in the illustration above for Roth IRAs. The income limits set by the United States Government are listed in the illustration below.

The deadline for contributing to an IRA is the deadline for filing that year’s federal tax return, April 15th. The contribution deadline is not extended if the IRA owner receives an extension for his or her tax return. If you have any questions concerning IRAs, please contact our Member Service Department or e-mail us at ira@pelicanstatecu.com for more information.**

*The information provided regarding IRAs is for informational purposes only and should not be considered tax advice. Pelican State Credit Union is not liable for decisions made by the member based on the information displayed on this page. Because every Member’s tax situation varies upon multiple factors, please consult your tax adviser regarding your own eligibility and the amount you may contribute to an IRA.

**Please take care when contacting us via e-mail. E-mail is not a secure method of contact and should not be used to send sensitive information such as your member number, Social Security Number or PIN.

Membership or membership eligibility is required. The above options are for information and advertising purposes only. Products are subject to change at any time without notification. Please contact credit union for the most current options and for more information about certain limitations on loan rate discounts and share certificate annual percentage yield (APY) increases.