High Interest Savings
You work hard for your money. Let it return the favor.
High Interest Savings
You work hard for your money. Let it return the favor.
High-Yield Money Market Accounts
Accelerate your savings with a High-Yield Money Market account. Ideal for those who maintain a high balance, our tiered accounts offer a higher rate of return than traditional savings accounts and still allow you access to your funds 24 hours a day.
- Earn a high-yield dividend rate
- No monthly fee
Certificates
Lock in a high rate and guaranteed return. Interest is compounded monthly and accounts can be easily rolled over once they reach maturity.
Basic Certificate
- Minimum deposit of $500
- Terms range from 3 to 60 months
Bump Certificate1
- Get a one-time bump to a higher rate
- Add to your balance with one additional deposit
Flex Certificate2
- Make a one-time withdrawal during your term
- Option to make a one-time deposit or bump to a higher rate
Jumbo Certificate
- Earn even higher dividend on balances of $100,000 or more
- Terms range from 6 to 60 months
Individual Retirement Accounts
Saving for retirement? IRAs are a flexible savings option with potential tax benefits*, making them a great way to supplement a 401(k) or other employer-sponsored plan.
Compare IRAs
Good for those who want
Good for those who want
Tax deduction on contributions*
Tax deduction on contributions*
Tax-deferred earnings*
Tax-deferred earnings*
Tax-free growth on earnings*
Tax-free growth on earnings*
Tax-free withdrawals during retirement*
Tax-free withdrawals during retirement*
Required minimum distribution after 70 ½
Required minimum distribution after 70 ½
Available as a Savings account (view rates)
Available as a Savings account (view rates)
Available as a Certificate Account (view rates)
Available as a Certificate Account (view rates)
No annual maintenance fees
No annual maintenance fees
Traditional IRA
Good for those who want
- Deductions now
- Have income too high to qualify for a Roth IRA
- Expect to be in a lower tax bracket in retirementTax deduction on contributions*
Tax-deferred earnings*
Tax-free growth on earnings*
Tax-free withdrawals during retirement*
Required minimum distribution after 70 ½
Available as a Savings account (view rates)
Available as a Certificate Account (view rates)
No annual maintenance fees
Roth IRA
Good for those who want
- Tax-free withdrawals in retirement,
- No required minimum distributions at 70 ½,
- Expect to be in at the same or higher tax bracket in retirementTax deduction on contributions*
Tax-deferred earnings*
Tax-free growth on earnings*
Tax-free withdrawals during retirement*
Required minimum distribution after 70 ½
Available as a Savings account (view rates)
Available as a Certificate Account (view rates)
No annual maintenance fees
IRA Changes for Tax Year 2020
- Required Minimum Distributions age raised to 72
- Traditional IRA contributions can be made at any age
- Required Minimum Distributions waived in 2020*
- Qualified disaster distributions up to $100,000 with waived early-withdrawal penalty*
SEP IRA
Have a Simplified Employee Pension (SEP) with your employer? Open your SEP IRA online and start saving for retirement today.
IRA Transfers and Rollovers
If you have an IRA at a different bank, simplify your finances by transferring- or rolling-over those funds to your Sound IRA. Call our Contact Center or visit your local branch to get started.
Education Savings Accounts
A Coverdell Education Savings Account (ESA) is a tax-favored account that helps pay for qualifying college and K-12 education expenses. Earnings on contributions may be tax-free and qualifying withdrawals are tax- and penalty-free.* You can even easily change beneficiaries should education priorities change.
ESA Requirements
- The beneficiary must be under age 18, unless they are special needs
- All funds must be used by age 30
- Responsible individual on the account must be a parent or legal guardian of the beneficiary
- Annual contribution maximum is $2,000
Easy Online and Mobile Transfers
Send cash where you need it with real-time online transfers.
Mobile Deposit
Deposit checks into your high interest savings account using Mobile Deposit on the Sound mobile app.
Take a Fresh Look at Your Finances
You have future goals, but how do you get there? Let our CFS Advisors guide share options and guide you down the path to financial success.
Investments offered through CUSO Financial Services, L.P. (CFS)
Have questions? Let our experts help.
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