TRADITIONAL IRAS
Secure your future with a Traditional IRA with these benefits:
- May allow you to make pre-tax contributions.
- Contributions grow tax-deferred, allowing immediate tax benefits. Income limitations may apply.
- Best suits someone who expects to be in the same or lower tax bracket when beginning to take withdrawals.
ROTH IRAS
Invest wisely with a Roth IRA and enjoy these exclusive benefits:
- Allows you to make after-tax contributions.
- Contributions grow tax-free, but there are no current-year tax benefits.
- Best suits someone who expects to be in a higher tax bracket when beginning to take withdrawals.
WANT MORE OPTIONS?
A Fibre Federal IRA account offers attractive benefits for growing your savings.
Looking for more options? We also offer IRA Certificates with flexible terms and great rates. Whether you’re looking for long-term growth or short-term goals, our IRAs have you covered.
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1
APPLY TO OPEN AN ACCOUNT
Check if you meet our membership criteria, then apply online or contact us to get started.
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2
FUND YOUR IRA
Select the best account type for you and make a deposit to start your retirement savings journey.
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3
ENJOY STEADY GROWTH
Save for retirement and grow your savings with tax advantages.
Always a positive atmosphere. And great customer service. Thank you Fibre for all your years of great service.
Why Choose Fibre Federal?
Fibre Federal Credit Union exists to serve our community – not outside stockholders. All you need to do is open a personal savings account and you become a part-owner of the credit union. When you open an account with us, you're not just an customer; you become part of our financial family.
Membership is open to people in select counties of Washington and Oregon states. You may also join if someone in your immediate family or household is a member or if you're a business or organization based in our service area.
But wait, there's more! We support our communities with programs, sponsorships and volunteer opportunities to make our community a better place to live. Join us and discover a fun and fulfilling way to manage your finances!
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A traditional IRA account allows tax-deductible contributions where you pay taxes on future withdrawals. This is a good option if you’re in a high tax bracket now and are likely to be in a lower bracket by the time you retire. On the other hand, a Roth IRA account offers more flexible withdrawals than a Traditional IRA. Roth IRA contributions aren’t tax deductible, but you can enjoy tax-free withdrawals in retirement or when you meet the criteria.
The choice between a Traditional IRA and a Roth IRA depends on your current financial situation and your retirement goals. It’s often advisable to consult with a financial advisor to determine which option is best for you.
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An IRA Certificate differs from a regular Individual Retirement Account (IRA) in terms of investment. While a regular IRA allows various investments subject to market fluctuations, an IRA Certificate offers a fixed-term investment with a specific interest rate. This stable, low-risk option often yields higher returns and is ideal for those seeking predictability in their IRA portfolio.
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Opening an IRA and starting your retirement planning is a step you can take at any point in your career. The key is to start making regular contributions and benefiting from tax advantages and compounding returns that come along with it. Remember, you can open an IRA and start saving at any age, as long as you have earned income.
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Credit unions often compare favorably to banks due to their member-focused, not-for-profit structure and lower operating costs. At Fibre Federal, we follow this trend by offering more competitive interest rates on both types of IRAs than large national banks, allowing your retirement savings to grow faster over time. Our excellent rates are just one of the many benefits of opening your IRA at our member-focused financial institution.
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Yes, you need to join our credit union, and becoming a member is easy! You simply need to meet these criteria:
- You live, work, worship, or attend school in Cowlitz, Clark, Lewis, Wahkiakum, Pacific, Skamania, or Grays Harbor counties in Washington, or Columbia, Clatsop, Tillamook, or Lincoln counties in Oregon.
- You are an immediate family member of an existing member-owner, such as a parent, child, brother, sister, spouse, or surviving spouse.
ENJOY YOUR GOLDEN YEARS
Start your retirement savings journey with confidence in a high-yield Traditional or Roth IRA savings account.
All Rates
| Minimum to Open | Minimum Monthly Balance | Minimum to Earn APY | Balance Method | Compounded/Credited | Current Dividend | APY |
|---|---|---|---|---|---|---|
|
$5 |
$5 |
$50 |
Daily |
Monthly |
0.49% |
0.50% |
Rate is effective November 21, 2024 and is subject to change.
Also see terms for accounts.
More Features
No maximum income limits
Unlike a Roth IRA, there's no limit on income with Traditional IRAs.
Federally Insured
Get peace of mind from the added security of federal insurance up to $250,000, in addition to federal insurance up to $250,000 on your other deposits with us.
Potential Tax Benefits
Traditional IRAs can provide a current tax deduction and defer taxes on earnings. Roth IRAs can earn dividends tax-free and offer other advantages. Check with your tax advisor to see which type of IRA account is best for you and if you qualify for tax benefits.
Contributions Details
For Traditional and Roth IRAs, there's an annual contribution limit. The limit increases for members 50 years or older.
Distributions Details
Qualified withdrawals for members age 59½ or older are exempt from the 10% IRS early distribution penalty. Withdrawals may be subject to income tax. With a Traditional IRA, you must take required minimum distributions annually once you reach age 73.
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