Overview
Whether you are invested in an employer-sponsored plan or you’re just beginning, an Individual Retirement Account (IRA) allows you to save for your retirement and potentially save on taxes. Then, you can enjoy a higher income after you retire and make the most of your golden years.
IRA Savings Options
Traditional IRAs
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
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?
We also offer IRA Certificates with flexible terms and great rates.
Rates
View all RatesThey were good listeners, spoke clearly, and were very efficient and kind. Felt like " the old days" of REAL customer service!
Why Choose Us?
We’re kind of like a family, only we’re a credit union
A lot of places say they treat you like family. At Fibre Federal Credit Union and TLC, we take it seriously. We’re the people you see at the grocery store and around town. We know you. We know your needs. We’re a part of your community and your family.
Better rates + low fees = happy members
When you become a member of the Fibre Family, you become an owner. We offer better rates and low fees to satisfy the people who matter most to us — people like you.
In person, virtual, or online
We love seeing you face-to-face. But if you prefer, you can give us a call, visit a virtual representative at one of our ITMs (Interactive Teller Machines), or bank online. It’s your choice, depending on how social you feel!
Your home is our home, so we like to keep it nice
We support our communities with programs, sponsorships and volunteer opportunities to make our community a better place to live.
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1
Contact us
Let us know you'd like to open an IRA.
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2
Choose the best option
Make an initial deposit.
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3
Enjoy steady growth
Grow your retirement savings with tax advantages.
Enjoy your golden years
Build your retirement savings with confidence in a high-yield Traditional or Roth IRA savings account.
Assumptions
Retirement age
Calculation assumes that the year you retire, you don't make contributions. If you retire at 67, the calculation assumes your last contribution is at 66.
Inflation
Calculation assumes a 2.9% rate of inflation. This is a common measure of inflation in the U.S. is the Consumer Price Index (CPI). From 1925 through 2018 the CPI has a long-term average of 2.9% annually.
Social Security
Social Security benefits are not considered for this calculation. Social Security is based on a sliding scale depending on your income, how long you work and at what age you retire.
Pensions
Pensions are not considered for this calculation.
Rate of return
Interest compounds monthly. The interest rate specified in calculator is used to calculate your return on savings and investments during and after retirement.
Disclosure
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
All Rates
| Minimum to Open | Minimum Monthly Balance | Minimum to Earn APY | Balance Method | Compounded/Credited | Current Dividend | APY |
|---|---|---|---|---|---|---|
|
$5 |
$5 |
$50 |
Daily |
Monthly |
0.74% |
0.75% |
Rate is effective December 2, 2023 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.
Test Modal
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| 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 December 2, 2023 and is subject to change.
Also see terms for accounts.
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