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IRAs

IRAs - Individual Retirement Accounts


We offer a full line of IRA savings options ranging from 12 to 72 months. Traditional, Roth, and Education IRAs are available to all 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  • Contributions may be withdrawn tax-free and/or penalty-free under certain conditions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  • Funds must be withdrawn when the beneficiary reaches the age of 30 or must be transferred to another beneficiary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
  • See our current IRA Rates.

Interested in opening an IRA? Here's how to get started:


IRA Rates

Rates Effective as of 11/1/2021

Term Min. Deposit Compound Dividend Rate APY
12 months $500 Monthly 0.10% 0.10%
24 months $500 Monthly 0.10% 0.10%
36 months $500 Monthly 0.25% 0.25%
48 months $500 Monthly 0.25% 0.25%
60 months $500 Monthly 0.25% 0.25%
72 months $500 Monthly 0.25% 0.25%
12 months $10,000 Monthly 0.10% 0.10%
24 months $10,000 Monthly 0.10% 0.10%
36 months $10,000 Monthly 0.25% 0.25%
48 months $10,000 Monthly 0.25% 0.25%
72 months $10,000 Monthly 0.25% 0.25%
12 months $50,000 Monthly 0.10% 0.10%
24 months $50,000 Monthly 0.10% 0.10%
36 months $50,000 Monthly 0.25% 0.25%
48 months $50,000 Monthly 0.25% 0.25%
60 months $50,000 Monthly 0.25% 0.25%
72 months $50,000 Monthly 0.25% 0.25%


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.