Save for retirement and earn competitive dividends with one of our IRA accounts. We offer both traditional and Roth, depending on your needs. It's never too early to start planning ahead — your future self will thank you.

Are you a current member of First Capital Federal Credit Union?

If you'd like to open an additional membership, please select "No."

Details

IRA Share

  • No set-up fees
  • Maintain a $100 minimum balance to avoid the $10 monthly service fee
  • Funds can be used to purchase certificates within IRA
  • $100 minimum deposit to open

IRA Share Certificate

  • No set-up fees
  • At maturity, share certificate funds may be transferred to an IRA share within the IRA
  • Certificate penalties may apply
  • Minimum opening deposit:
    • $500 under age 19
    • $1,000 age 19 and over
Traditional vs. Roth

There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA

  • No income limits to open
  • No minimum contribution requirement
  • Contributions may be tax deductible*
  • Earnings are tax deferred until withdrawal*
  • Withdrawals can begin at age 59 ½*
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals at age 70 ½
  • Contribution limits are determined annually by the IRS
  • Additional $1,000 "catch-up" contribution allowed for ages 50 and over

Roth IRA

  • Eligibility to open Roth IRA determined by income*
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal*
  • Contributions can be withdrawn without penalty*
  • Withdrawals on dividends can begin at age 59 ½*
  • Early withdrawals on dividends subject to penalty**
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income
*Consult a tax advisor.
**Certain exceptions apply, such as healthcare, purchasing first home, etc.

Are you a current member of First Capital Federal Credit Union?

If you'd like to open an additional membership, please select "No."

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