First Financial Federal Credit Union

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  • Contributions may be withdrawn tax-free and/or penalty-free under certain conditions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  • Funds must be withdrawn when the beneficiary reaches the age of 30 OR must be transferred to another beneficiary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.