The money that helps make every moment count.

Travel wide. Try new things. Spoil the grandkids. Spend sunny afternoons with friends. With our tax-advantaged IRAs, those retirement years really can be golden.

They start as a daydream. But your retirement ideas should quickly turn into an action plan. Ready to start building toward a better tomorrow? At Summit Credit Union, we offer multiple ways to grow your money, and all the help you need to get things headed the right direction.

  • Contribute up to $6,500 a year ($7,500 if over age 50).
  • Traditional and Roth IRAs are available.
  • With Traditional IRAs, you may be able to take a tax deduction every year you make a contribution.
  • With Roth IRAs, qualified withdrawals are tax- and penalty-free.
  • With both Traditional and Roth IRAs, your annual interest and dividend interest grows tax-free.

Want to know more? Members can open an IRA at any branch. To schedule an appointment, call or text our Member Service Call Center at 336-662-6200.

Saving Options

There's no one-size-fits-all way to build your retirement savings. At Summit Credit Union, we offer Individual Retirement Arrangements that let you combine several types of accounts.

IRA Accumulator 

  • No minimum balance required on the account.
  • Deposit funds as you would with a regular savings account.
  • Dividends are paid quarterly.
  • If the balance is below $500, there is a $5 quarterly maintenance fee.
  • Annual deposit restrictions may apply. Consult a tax professional for more information on your individual limits.

IRA Certificate

  • An IRA Certificate works just like an ordinary Certificate of Deposit, while also providing tax benefits.
  • An IRA Certificate offers a set rate of interest for a particular period of time. Certificates have an established minimum investment amount and a predetermined maturity period.
  • Deposit a minimum of $500 for a Regular IRA Certificate and $10,000 for a Jumbo IRA Certificate.
  • Dividends are paid quarterly for the length of the term.
  • Annual deposit restrictions may apply. Consult a tax professional for more information on your individual limits.

Summit Credit Union is a full-service financial institution with eight branches throughout North Carolina. 

Frequently Asked Questions

Your $5.00 on deposit in your savings account means you own one share of the Credit Union and are a part owner with full voting rights. Once you are a member/owner, you are eligible to take advantage of the other services available at the credit union. If your savings balance falls below the $5.00 requirement, you will need to make a deposit to bring the balance back to $5.00 to maintain your membership.

Our Christmas Club gives you a way to save money for end-of-year expenses. An account can be opened anytime during the yea and can be accessed October 1 each year. You are able to take a partial withdraw prior to October 1 with a $5 fee.

Free Checking

We help you avoid needless fees. Trust us for free checking with no strings attached.