CD Rates Are Up!

If you currently have CD or a Traditional or Roth IRA Certificate at TCCU, your funds will roll over into the new rate at maturity. For more information or to open an investment accoutn, please contact Sheilla Pietila, New Accounts Representative, at 310-618-9111 ext. 34.

Individual Retirement Accounts

TCCU offers three different types of Individual Retirement Accounts: Traditional, Roth and Coverdell Education Savings.

1. A Traditional IRA offers tax-deferred earnings and the possibility of tax-deductible contributions.
2. A Roth IRA is funded by non-deductible contributions but gives owners the opportunity for tax-free withdrawals.
3. A Coverdell Education Savings Account enables parents and others to deposit $2,000 per year to be used for educational purposes. Earnings grow tax-free if you meet the income requirements.

Start planning for your retirement today by opening an IRA account at Torrance Community Credit Union. An IRA account is an important part of your long-term savings portfolio.

For traditional and Roth IRA's there is a new contribution limit of $3,000.00 and for members over 50, there is a catch-up contribution of $500.00.

Money Market Accounts

A Money Market Account is a highly liquid, secure investment, which pays dividend rates that are adjusted with changes in market conditions. This secure investment offers higher rates, with no annual fee. The minimum deposit required for a Money Market Account is $2,500.

A Money Market Account is a great way to maximize your return on your investment dollars!

CD's

If you do not need immediate access to your funds and want to invest for longer periods to obtain higher rates of return, then Certificates of Deposits is the route to go. The minimum deposit required for a CD is $1,000.

Market Index Certificates

Market Index Certificates are fully insured Certificates of Deposit that pay interest based on the Standard & Poor's 500 Composite Stock Price Index (S&P 500). Invest during any two-week offering period. The minimum investment is $1,000, and you may choose a term of either two or four years. Unlike direct stock market investments, Market Index Certificates offer returns based on the performance of the Stock Market but fully protect your principal deposit.

Excess Insurance Coverage

Why take your savings elsewhere when you can have outstanding rates and highest level of coverage right here?

Share Savings accounts and IRA accounts, at TCCU, are protected up to $350,000- the highest level of combined federal/private share insurance available. The federal government provides $100,000 of this protection, and American Share Insurance (ASI), provides an additional $250,000.

And the best part is that you don't have to do anything, we will do all the work for you. You are automatically covered, just by being a member.