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Individual Retirement Accounts (IRAs)

Your future will be here one day. Sooner than you may expect. Secure it with an IRA that gives a high rate of return and competitive interest. Our IRAs are separately insured to $250,000 by the NCUA. Which IRA best meets your needs?

Traditional IRA

  • A great way to save for retirement while taking advantage of tax-deferred earnings.
  • Your contributions may be tax-deductible. Consult with your tax advisor.
  • Earnings grow tax-deferred until they are withdrawn. Withdrawals are taxed as ordinary income.
  • Withdrawal penalty-free for the following reasons: age 59 ½ or better, qualified educational expenses, first-time home purchase, disability, qualifying medical expenses exceeding 7.5% of adjusted gross income, payments of health insurance premiums while unemployed for 12 weeks or longer, and death.

Roth IRA

  • Contributions are not tax-deductible, but withdrawals may be tax-free under certain circumstances.
  • Make contributions from non-deductible after-tax income.
  • Contributions grow in a tax-free environment.
  • After the account has been open for five years, earnings can be withdrawn tax-free and penalty-free for any of these reasons: age 59 ½ or better, if funds are needed for certain medical expenses, disability, death, education expenses, or first-time home purchases.
  • Not required to start withdrawals at the age of 70 ½. Those with earned income can contribute after age 70½.

Coverdell Education IRA

  • A great way to begin saving for your child’s education.
  • Contribute up to $2,000/year/child.
  • Withdrawals are tax-free and penalty-free only for qualified education expenses: tuition, books, fees, and computer equipment for elementary, secondary, and post-secondary education.
  • Funds may be transferred to another child in the same family without penalty.
  • Contributions are allowed until the child reaches age 18. All funds must be withdrawn by the time she or he turns 30.
  • Safety of NCUA insurance up to $250,000

1. Rates

Rates Effective 10/9/18. Rates Subject To Change. Early withdraw penalties may apply.  *APR = Annual Percentage Rate. **APY = Annual Percentage Yield.
***19 and 25 Month Special Offer CD requires 50% of funds as new funds not currently on deposit at 1st Financial. 8, 27 and 44 Month Special Offer CD requires 100% of funds as new funds not currently on deposit at 1st Financial.
Paid Monthly APR* APY**
3 Month ($1,000 Min) 0.34% 0.35%
6 Month ($1,000 Min) 0.64% 0.65%
8 Month ($1,000 Min) ***SPECIAL OFFER IRA 1.98% 2.00%
12 Month ($1,000 Min) 0.99% 1.00%
18 Month ($1,000 Min) 1.09% 1.10%
19 Month ($1,000 Min) ***SPECIAL OFFER IRA 2.22% 2.25%
24 Month ($1,000 Min) 1.48% 1.50%
25 Month ($1,000 Min) ***SPECIAL OFFER IRA 2.07% 2.10%
27 Month ($1,000 Min) ***SPECIAL OFFER IRA 2.95% 3.00%
36 Month ($1,000 Min) 1.24% 1.25%
44 Month ($50,000 Min) ***SPECIAL OFFER IRA 2.81% 2.85%
48 Month ($1,000 Min) 1.53% 1.55%
60 Month ($1,000 Min) 1.83% 1.85%

 

2. Calculate

What do those rates mean for you? Find out here.

Calculators »

3. Apply

The sooner you do, the sooner ‘One Day’ becomes Day 1.

Get Started »

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