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CD/IRAs

CERTIFICATES OF DEPOSIT

We offer Certificates of Deposit for terms ranging from 91 days to 60 months. Pick the length of time that best suits your savings goal and we'll quote you the current annual percentage yield (APY). Since you'll be earning a guaranteed rate of return on an account that's FDIC-insured up to $250,000, you can relax. You know exactly what you will have at maturity guaranteed and worry-free. (A penalty may be imposed for early withdrawal of certificates.)

(WCF Financial Bank will generally not accept out of state deposits to CDs.)

Tax Deferred Retirement Plans

If you are like most people, building a retirement fund is your biggest savings goal. You can reach that goal a little faster, or make your savings go a little farther with the added value of tax deferral in a retirement plan at WCF Financial Bank.

  • Deposit IRA funds in your choice of WCF Financial Bank's FDIC-insured Certificates of Deposit.
  • No service charges or maintenance fees; every dollar invested grows for you.

Traditional Individual Retirement Account (IRA)

  • Available to individual wage earners under the age of 70½
  • Make contributions for 2009 up to $5,000 or 100% of earned incomes annually (whichever is less)
  • "Catch Up Contributions" of $1,000 available for individuals age 50 or over who have earned income and have not reached age 70½
  • Earnings grow tax free until they are withdrawn at retirement. If you qualify, enjoy the added benefit of current tax savings through full or partial tax deductibility of your contributions

Roth IRA

  • Available to all wage earners, regardless of age.
  • Make contributions for 2009 up to $5,000 or 100% of earned income annually (whichever is less)
  • Catch Up Contributions of $500 available for individuals age 50 or over who have earned income and have not reached age 70½
  • Earnings grow tax free until they are withdrawn. Unlike a traditional IRA, distributions are not required to begin at age 70½
  • Principal may be withdrawn without tax penalty or income tax.
  • Earnings can be withdrawn tax free if the account is open 5 years and you meet a qualifying reason for disbursement (i.e. age 59½, disability, death, etc.)

Simplified Employee Pension (SEP)

  • Available for businesses, including sole proprietorships, partnerships, and corporations.
  • Employer contributions made to both the employer and the employees? IRAs are deductible to the employer.