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IRAs

Relax ... make a plan.

Prepare for a comfortable retirement with an Individual Retirement Account.

The following SECURE Act provisions affect your IRAs

  • Delayed age for beginning RMDs
    • The age when required distributions (RMDs) from Traditional IRAs must generally begin has been increased to 73. This is effective for distributions required in 2023.
  • More flexibility for IRA contributions
    • Taxpayers with earned income can make Traditional IRA contributions at any age. This is effective for 2020 and later taxable years.
    • Certain stipend, fellowship, and similar payments to graduate and postdoctoral students will be treated as earned income for IRA contribution purposes. This is effective for 2020 and later taxable years.
  • More rapid payouts to non-spouse (and other) beneficiaries
    • Most non-spouse beneficiaries of IRAs will generally be required to distribute inherited amounts within 10 years. This is effective for IRA owner deaths in 2020 or later years.
      • Exceptions include those who, at the time of the account owner’s death, are:
        • Disabled individuals.
        • Certain chronically ill individuals.
        • Beneficiaries whose age is within 10 years of the decedent’s age.
        • Minors (they would begin a 10-year payout period upon reaching the age of majority).
        • Recipients of certain annuitized payments begun before enactment of the SECURE Act.
  • Birth/adoption excise tax exception
    • The birth of a child or adoption of a child (or individual who is incapable of self-support) qualifies both as a plan distribution event and as an amount that is exempt from the 10 percent early distribution penalty tax (if applicable) for distributions of up to $5,000 in aggregate from IRAs. These amounts may be repaid. This is effective for distributions in 2020 and later years.
 

Additional Features

Traditional IRA

  • Accounts can be opened and funded with contributions based on your earned income and age.
  • Contributions may be tax-deductible.3
  • Earnings are tax-deferred until withdrawn.
  • Funds are always available,3 unlike many employer plans.
  • No minimum contribution required in any year.

Roth IRA

Coverdell Education Savings Account

  • Tax-free earnings.
  • Ability to invest up to $2,000 per year per child.
  • Withdraw money penalty-free for approved use on elementary, secondary and higher education expenses.
  • Account can be transferred to another child who qualifies as an eligible beneficiary if intended child does not attend an institution of higher education.
  • Contributions can be made by almost anyone.

Visit an office near you today to open an IRA or Coverdell Education Savings Account.

1 Allowed a one-time dividend rate upgrade request during the original term. At the time of request, the dividend rate will be increased to the dividend rate offered at that time for the same product and term and will be fixed until the original certificate maturity date.
2 To qualify, you must have a checking account opened at least six (6) months with a minimum of ten (10) member-initiated transactions within the past sixty (60) days and must already have one of the following FFCU products: a credit card, loan, certificate or IRA.
3 Seek tax advice.

Calculators

What Will My Investment Be Worth in the Future?

See how much you could earn!

How Long Will My Retirement Savings Last?

Curious as to how much you really need to retire? Check out our retirement savings calculator.

How Much Do I Need to Fund my Retirement?

Retirement on the horizon? See if you are on track.

Certificates

as high as

5.46
%
APY

IRAs

as high as

5.72
%
APY

Loyalty Select

at

4.07%
%
APY

Credit Cards

as low as

14.25
%
APR*

Apply for an Auto Loan!

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MEMBERS: Log in to Founders Online then select Add Accounts to apply for your Auto Loan.

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NON-MEMBERS: Please complete our Auto Loan Application and Membership Application.

Apply for a Deposit Account!

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Apply for a Personal Loan!

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NON-MEMBERS: Please complete our Loan Application and Membership Application.

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MEMBERS: Log in to Founders Online then select Add Accounts to apply for your Deposit Account.

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NON-MEMBERS: Please complete our Deposit Application and Membership Application.

Apply for a Personal Line of Credit!

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MEMBERS: Log in to Founders Online then select Add Accounts to apply for your Personal Loan.

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NON-MEMBERS: Please complete our Line of Credit Application and Membership Application.

Founders Locations Search

Looking for a Founders location near you? Search for any of our Founders offices, ATMs and surcharge-free ATMs below!

 

Apply for a Recreational Vehicle Loan!

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MEMBERS: Log in to Founders Online then select Add Accounts to apply for your Auto Loan.

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NON-MEMBERS: Please complete our Auto Loan Application and Membership Application.

Our Online Applications are currently unavailable due to a full system technology upgrade. Please check back on Monday, July 13 to start your application. Thank you for your interest in applying for a Loan or Deposit Account with Founders Federal Credit Union!

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