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IRAs

With an individual retirement account you can start saving for retirement today.  Choose from a Traditional or Roth IRA.

Start saving for your future now!

First Heritage offers Traditional and Roth Individual Retirement Accounts.

An Individual Retirement Arrangement (IRA), commonly called an Individual Retirement Account, is a personal retirement savings plan available to anyone who receives taxable compensation during the year. For IRA contribution purposes, compensation includes wages, salaries, fees, tips, bonuses, commissions, taxable alimony and separate maintenance payments.  You can open an IRA savings account or IRA share certificate

There is no minimum or required IRA contribution to start your IRA. All it takes is a few minutes to start planning for your future!

Here is a general overview of the main differences between Traditional and Roth IRAs. Use it to help you decide which IRA is right for you. You will also want to talk with your tax advisor.

















A Traditional IRA Makes Sense If You:


  • Are eligible for a Traditional IRA deduction,
  • Are not eligible to contribute to a Roth IRA,
  • Anticipate a higher tax rate while saving,
  • Anticipate a lower tax rate during retirement,
  • Plan to withdraw at least the required minimum distribution (RMD) amounts during retirement, or
  • Are not concerned about tax implications to beneficiaries
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A Roth IRA May Be More Fitting If You:


  • Are not eligible for a Traditional IRA deduction,
  • Anticipate a lower tax rate while saving,
  • Anticipate a higher tax rate during retirement,
  • Want to avoid RMDs (Required Minimum Distributions),
  • Are concerned about tax implications to beneficiaries, or
  • Are not eligible to contribute to a Traditional IRA because of the age limit.
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IRA Share Savings

Choose from a Traditional or Roth IRA Share Savings Account and start saving for retirement today!
  • Minimum $5 to open
  • Insured up to $250,000 by the National Credit Union Administration
APY=Annual Percentage Yield
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APY
up to
0.20%














Putting money aside for retirement is extremely important. And the sooner you start the better.

IRA accounts shelter earnings from taxes until the depositor retires or withdraws the funds. They provide important tax advantages. First Heritage IRA Share Certificates are longer-term investments yielding a higher dividend than IRA Share Savings. A wide variety of terms are available.

IRA Share Certificates

  • Traditional and Roth IRA Share Certificates available
  • Minimum balance of $1,000
  • Attractive dividend rates
  • No service or maintenance fees
  • Savings federally insured to at least $250,000 by the NCUA
For Share and IRA Share Certificates, a penalty may be imposed for early withdrawal. Fees may reduce earnings.
















































































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Educational Resources:


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INDIVIDUAL RETIREMENT ACCOUNTS (IRAs)

It’s never too early to start saving for retirement, and there are lots of great resources available to help you achieve your financial goals. Continue reading about IRAs...





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