IRAs (Individual Retirement Account)
WEPCO offers two different types of IRA products.
A Traditional IRA is a powerful tool for creating a balanced, long-term savings plan with tax-deferred earnings and the possibility of tax-deductible contributions.
While contributions to a Roth IRA are not tax-deductible, the money you contribute can be withdrawn tax-free at any time. Earnings can also be withdrawn tax-free, if you qualify.
Coverdell Education Saving Account (ESA)
Coverdell Educational Savings Accounts can pay for the future costs of a child’s primary or secondary education. The plan allows total after-tax contributions per year for each child until they reach the age of 18. These contributions and their subsequent earnings are tax-free when withdrawn to pay for qualified education expenses.
Simplified Employee Pension Plans (SEP)
A SEP can help employers encourage their employees to save for retirement. SEPs provide many of the same benefits as a qualified retirement plan, but without as many disclosures and reporting requirements.
Rates effective as of September 24, 2019
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For more information about our Traditional and Roth IRAs, view the following brochures:
- Traditional and Roth IRAs
- Traditional IRA
- Roth IRA
- Transfers, Rollovers, and Conversions
- IRA and Retirement Plan Distributions
- Inherited IRAs
- Coverdell ESAs
- Retirement Plans
- SEP IRAs
(WEPCO does not offer Simple or Individual(k) Plans)
Money Market Accounts
Our money market accounts provide for the highest of returns with the easiest of terms. Our money market account requires a minimum deposit of $2,500.00. Transactions are limited to no more than three (3) withdrawals or transfers during a one-month statement period, and each must be at least $500.00.
Choose the term and rate that is best for you! Start saving today with a higher rate of return for tomorrow! We offer a share certificate, Traditional and Roth IRA share certificates and a Coverdell Educational share certificate. A minimum deposit of $500 is required.