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Traditional IRA Accounts

Start building your retirement nest egg and save on taxes!

Overview

A Traditional IRA offers a smart way to save for retirement. It provides powerful tax advantages and flexible investment options to grow your savings over the long term. Explore the benefits below that can help you achieve your retirement goals.

BENEFITS

Flexible Contributions

Make tax-deductible contributions up to IRS limits each year or skip years if needed.

Tax-Deferred Growth

Watch your investment earnings grow without annual taxes until withdrawn.

Investment Choices

Choose from diversified options to meet your specific savings objectives.

Delayed Withdrawals

Your money can stay invested and growing until age 73.

Estate Planning Perks

Name beneficiaries to inherit your account and reduce estate taxes.

MORE DETAILS ABOUT TRADITIONAL IRAS

Traditional IRAs from Fibre Federal Credit Union offer flexible, tax-advantaged retirement savings options.

Your money can grow over the long term without yearly taxes on earnings. You can contribute up to the annual IRS limit and enjoy immediate tax deductions on those contributions.

You must take the required minimum distributions each year starting at age 73. Qualified withdrawals after age 59-1/2 are not subject to IRS penalties.

Several terms and conditions apply to maintaining and withdrawing from a Traditional IRA.

Other features include:

Distributions—Withdrawals may incur income taxes after age 59 ½.

Federal Insurance—IRA deposits insured up to $250,000 by the NCUA.

No Income Limits—You can contribute regardless of your annual income level. Must be earned income to be eligible.

No Annual Fees—No annual account fees—save for retirement affordably.

Competitive Dividends—Make your money grow faster.

Contribution limits—As of 2023, contribute up to $6,500 yearly, or $7,500 if you are 50 or older.

Future Potential Tax Benefits—Best for those forecasting equal or lesser income later in life.

Early Withdrawal Fees—May be subject to IRS early withdrawal penalties for disbursements taken under age 59 ½.

OPEN A TRADITIONAL IRA

TRADITIONAL IRA RATES

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APY

Map Out Your Path to Retirement

Use our easy-to-use Traditional IRA Calculator to obtain a customized outlook for your unique financial situation. Get a clear picture of what it might take to achieve the retirement you envision.

Current Savings
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Dividend Rate
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Adjust for inflation
Dividends compound monthly. Read assumptions

Total Retirement Savings

Annual Retirement Income

OPEN A TRADITIONAL IRA SAVINGS ACCOUNT IN THREE SIMPLE STEPS

  • 1

    VISIT US

    Stop in at a financial services center to open your Traditional IRA.

  • 2

    DEPOSIT FUNDS

    Start saving for your future.

  • 3

    WATCH YOUR MONEY GROW!

    Make additional contributions annually up to set limits.

GET STARTED

When I called the customer service line I got to talk to Paula. She was wonderful! She was so helpful with a great sense of humor. Everyone needs a Paula in their life! Or, just on the other end of the phone, to make hard things a little easier. Thank you, Paula!

— Joy T., Longview, WA.

WHY CHOOSE FIBRE FEDERAL?

Choosing the right financial partner is essential, whether you’re just starting out or looking ahead to retirement.

As a not-for-profit cooperative, Fibre Federal Credit Union exists solely to serve our community members rather than stockholders.

By becoming a member, you will be a partial owner and gain access to a full suite of banking services.

Our members enjoy low fees, high-yield returns, and innovative tools to help achieve savings goals, large and small.

We remain committed to empowering our members to thrive financially. Discover why Fibre Federal is the local choice for all your banking needs.

TRADITIONAL IRA ACCOUNTS FAQs

  • We make it easy for you to start contributing and watch your savings grow tax-free. Stop by any financial services center or submit an online request to get started.

  • Withdrawals during retirement get taxed as regular income based on your tax bracket. Qualified distributions taken after 59 ½ years of age avoid penalties.

  • As of 2023, the IRS sets an annual contribution limit of $6,500 for traditional IRAs or $7,500 if over age 50. These contributions can grow tax-free until used for retirement.

  • Traditional IRAs frequently provide tax deductions on contributions. They also allow your funds to grow tax-deferred until you withdraw them during retirement. This powerful tax deferral can significantly boost the size of your nest egg over the long term.

  • Anyone who is a member of Fibre Federal is eligible to open a Traditional IRA.

TRADITIONAL IRA ACCOUNTS

Take the First Step Towards Retirement Security

It’s never too early to start saving for retirement. Our competitive interest rates and no annual fees mean your savings can grow faster. Open a Traditional IRA today and lay the foundation for a secure future.

MORE SAVINGS OPTIONS

SAVINGS ACCOUNTS

Grow your money with a savings account that fits your needs. Compare our options and start saving today!

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MONEY MARKET ACCOUNTS

Earn more on your savings with a money market account. Enjoy competitive rates and limited check-writing privileges.

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CERTIFICATES

We have several options to fit your savings goals, including bump-up and high-yield certificates of deposit and more!

Learn More

SCAM ALERT Do not respond to a text claiming to be from Fibre, asking you to verify your identity. This is a phishing scam.

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