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IRAs - Individual Retirement Accounts

We offer a full line of IRA savings options from 12 to 72 months. Traditional, Roth, and Education IRAs are available to First Financial members.

Traditional IRAs

  • $500 minimum opening balance
  • Possible tax deductible contributions
  • No required contribution
  • Maximum contribution = $5,500 ($6,500 if you're 50 years or older)
  • Withdraw as early as 59 1/2 without penalties
  • Qualified withdrawals are penalty-free
  • Must begin withdrawing at 70 1/2
  • Automatically insured up to $250,000
  • No fees

Roth IRAs

  • Allows withdrawals at retirement paying 0% capital gains tax
  • Withdrawals not required at age 70 1/2
  • Contributions may be withdrawn tax-free and/or penalty-free under certain conditions
  • Contributions can continue after the age of 70 1/2
  • Contributions are not tax deductible
  • Automatically insured up to $250,000
  • No fees

Education IRAs

  • Allows contributions up to $2,000 per child (up to the age of 18) per year for educational expenses
  • Upon withdrawal, member pays 0% capital gains tax
  • Dividends will accumulate tax-free
  • Withdrawals may be tax-free if used for educational expenses by the age of 30
  • The 10% penalty is waived when funds are used for post-secondary education
  • Contributions may be made by parents, grandparents or guardians
  • Funds must be withdrawn when the beneficiary reaches the age of 30 OR must be transferred to another beneficiary
  • Contributions are not tax deductible
  • Automatically insured up to $250,000
  • No fees

Interested in an IRA?

Get Started:

See our current IRA Rates.

*A $5 deposit in a base savings account is required for credit union membership prior to opening any other account. All personal memberships are part of the Rewards First program and a $5 per month non-participation fee is charged to the base savings account for memberships not meeting the minimum requirements of the program. Click here to view full Rewards First program details, and here to view the Tier Level Comparison Chart. Accounts for children age 13 and under are excluded from this program.