TRADITIONAL IRAS

A Traditional IRA allows you to contribute up to a certain amount towards your retirement each year until you reach age 70½.   Your contributions may be tax deductible, and your earnings are tax deferred until you begin making withdrawals.

Contribution limits are changing over the next few years and are as follows:

• Up to tax year 2007 - $4000 ($5000 for those 50 & older)
• Tax year 2008 - $5000 ($6000 for those 50 & older)
• Starting in 2009, the limits will be increased for inflation in $500 increments.

Our Savings & Retirement Center gives you more information on Traditional IRAs.  You can even start the process of opening an IRA or service your existing IRA with First Financial through the Service Center.

Your credit union offers several IRA investment options.  You can put your funds in a regular IRA savings account or in an IRA term share certificate.  CUE, your CU's investment partners, can also provide a variety of other investment alternatives.

Click here for our current IRA savings rate.

Click here for current IRA certificate rates.

Use our Savings Calculators to calculate the dividends you'll earn.  Or, figure out if you're on track for retirement at our Savings & Retirement Center.