Church Extension Plan is now GenFi Ministries.

   800-821-1112    4070 27th Ct SE, Salem, OR 97302

Saving for Retirement: Compare Options

No matter your situation, GenFi Ministries offers several IRA options to help you prepare for retirement. 

Open an IRA

How are they different?

Contributions to a Traditional IRA may be tax-deductible when you make them, and both deductible contributions and interest grow tax-deferred. With a Traditional IRA, the distributions you take at retirement are taxed as regular income. 

Contributions to a Roth IRA are made after taxes, but interest still compounds and grows tax-deferred. However, unlike a Traditional IRA, qualified distributions at retirement are not taxed. 

A Simplified Employee Pension (SEP) IRA allows an employer to make contributions on behalf of their employees. However, self-employed individuals can contribute a portion of their own compensation to a SEP IRA as well, often with significantly higher contribution limits than a Traditional or Roth IRA. Like a Traditional IRA, contributions are typically tax-deductible, with distributions taxed as regular income when you take them at retirement.
Traditional IRA
Roth IRA
SEP IRA
Contribution Limit (2025):
· $7,000/year
· $7,000/year
· $70,000/year or
· $8,000/year for age 50+
· $8,000/year for age 50+
· 25% of your compensation, whichever is less
Annual Custodial Fee:
  $10
  $10
  $10
Eligibility:
· Earned income from employment
· Earned income from employment
· Must be self-employed, own a business, or earn freelance income
· No age limit
· No age limit
· No age limit
Tax Benefits:
· Contributions may be tax-deductible
· Contributions may be tax-deductible
· Contributions are not tax-deductible
· You may qualify for a tax credit
· Money grows tax-deferred
· You may qualify for a tax credit
· Money grows tax-deferred
· Qualified redemptions are not taxed
· Money grows tax-deferred
· Redemptions are taxed
· Redemptions are taxed
Redemptions:
· Allowed at age 59 ½
· Allowed at age 59 ½
· Allowed at age 59 ½
· RMDs begin at age 73
· IRA must be established for 5 years
· RMDs begin at age 73
· Early redemptions may incur tax penalties
· No RMDs
· Early redemptions may incur tax penalties
· Transfers and rollovers are not taxable
· Early redemptions may incur tax penalties
· Transfers and rollovers are not taxable
· Transfers and rollovers are not taxable
Learn More about Traditional IRAs
Learn More about Roth IRAs
Learn More about SEP IRAs

How are they similar?

Our IRA options help you grow your retirement savings with tax advantages and fixed interest rates. They’re easy to manage—whether in person, over the phone, online, or through our mobile app.

Earn up to

0

% APY*

on a six-month term.

*APY = Annual Percentage Yield assumes all interest is left in the investment and compounded.
Fixed-rate investments are not designed for early withdrawal.

Current Rates

APY*
APR*
Term
5.12%
5.00%
6 Month
4.59%
4.50%
12 Month
4.33%
4.25%
18 Month
3.82%
3.75%
2 Year
3.56%
3.50%
3 Year
3.04%
3.00%
5 Year

Ready to invest?

If you’re interested in any of our IRA retirement offerings, contact us today! Our friendly and skilled team of investment specialists would be happy to help you get started!

Open a Traditional IRA
Open a Roth IRA
Open a SEP IRA

*APY = Annual Percentage Yield assumes all interest is left in the investment and compounded. Rates subject to change. Past performance is no guarantee of future results. GenFi Ministries’ securities are not Saving Accounts or Bank Deposits and they are not FDIC or SIPC insured. This is not an offer to sell our securities and we are not soliciting you to buy our securities. We will offer and sell our securities only in states where authorized. The offering of our securities is made solely by our Offering Circular. The Notes are unsecured debt securities subject to terms, conditions and risks described in our Offering Circular, including risk of possible loss of the amount invested. Payment is dependent on GenFi Ministries’s financial condition at the time payment is due. Potential investors are urged to carefully read our Offering Circular before making an investment decision.

Please submit this form to begin the process of opening an ESA with GenFi Ministries.

Thank you for your interest in our IRAs. Once you submit this form, an Investor Specialist will be in contact with you within 2 business days. Please feel free to contact our office (800-821-1112) if you have any questions in the meantime.

Please submit this form to begin the process of opening an ESA with GenFi Ministries.

Thank you for your interest in our IRAs. Once you submit this form, an Investor Specialist will be in contact with you within 2 business days. Please feel free to contact our office (800-821-1112) if you have any questions in the meantime.

Please submit this form to begin the process of opening an ESA with GenFi Ministries.

Thank you for your interest in our IRAs. Once you submit this form, an Investor Specialist will be in contact with you within 2 business days. Please feel free to contact our office (800-821-1112) if you have any questions in the meantime.

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Conditions

  • $250 minimum to open and maintain
  • Rate fixed for term
  • Redemptions require a
    Distribution Form
  • $10 annual custodial fee; first year’s fee due when new IRA is opened

Penalty

  • Previous 6 months’ interest on full note balance for transfers to a new custodian prior to maturity
  • IRS penalties vary according
    to the IRA type

Questions? Contact us!