Southwest offers three IRA options. Listed below are three types and the differences:

  • ROTH – Contributions can be withdrawn tax- and penalty-free at any time. Earnings are tax-free after 5 years and withdrawn with a qualified reason.

  • TRADITIONAL – Earnings grow tax-deferred until withdrawn. Contributions may be tax deductible.

  • EDUCATION – Withdrawals for qualified higher-education expenses are tax-free.

Not intended for tax advice.  Please consult a tax professional.

Please call or come for complete details of the IRA investment products.


IRA Share Accounts
Minimum Balance**$0.00Dividend Rate.25
**There is no minimum balance requirement for IRA share accounts.APY*.25

The dividend rate is determined at the end of each quarter.  Dividend rate disclosure is for Oct. 1, 2022 through Dec. 31, 2022.

*The Annual Percentage Yield (APY) assumes that the principal balance will remain on deposit until maturity.  An early withdrawal of the principal balance will reduce earnings. 


IRA Share Certificates (CD)

Southwest offers IRA Share Certificates (CDs) with several rates and time options. All of our CDs are protected by the federal government (NCUA) up to $250,000.00 per account. Please check our rate sheet for current rates.


Share Certificate Accounts and IRA Certificate Accounts
Balance Requirement6 Months12 Months24 Months36 Months60 Months
$1,000.00-$49,999.99Stated rate2.803.403.303.102.95
$50,000.00-$99,999.99Stated rate3.003.603.503.303.15
$100,000.00 and higherStated rate3.203.803.703.503.35
Early withdrawal penalty: number of days of interest lost90 days120 days180 days180 days180 days


Effective:  May 24, 2023

All rates are declared by the Board of Directors of Southwest Oklahoma Federal Credit Union and are subject to change at any time.

IRA Share Certificate Accounts are not available on terms of 91 Days and 6 Months.

*The Annual Percentage Yield (APY) assumes that the principal balance will remain on deposit until maturity. An early withdrawal of the principal balance will reduce earnings.


Retirement Calculators

How much will I need to save for retirement?

How much will I receive in Social Security?

I'm retired, how long will my savings last?

How much can I save with my 401(k)?

Compare Roth 401(k) and Traditional 401(k) retirement savings plans.

How much will inflation affect my retirement?

The accuracy of these calculators and their applicability to your circumstances are not guaranteed.  Results should be discussed with a qualified professional before any product purchases or loan commitments are made.