Skip to main content
Wherever your future may take you.

Individual Retirement Accounts

What is an IRA?

Individual Retirement Accounts (IRAs) are accounts specifically set up for anyone with earned income to save for retirement. It’s never too early to start saving: the sooner you start, the longer your money has to grow. Moreover, you might want to consider rolling over your 401K employer plan to your IRA, save on the administrative fees and maximize your investment options. The money you put away is NCUA-insured up to allowable limits, so it’s worry free.

Traditional or Roth?

The biggest difference between a Roth and a Traditional IRA is how and when you get a tax break. The tax advantage of a Traditional IRA is NOW: your contributions are tax-deductible in the year they are made. The tax advantage of a Roth IRA is LATER: your withdrawals in retirement are not taxed. For more details on how they differ, refer to this useful table from IRS. As always, consult your tax advisor for additional information.

Simplified Employee Pension

A Simplified Employee Pension (SEP) IRA can be opened by an employer, who might simply be a self-employed individual. It allows small business owners to provide a basic retirement plan for their employees as well as their own retirement savings, without the cost and complexity of a 401(k) or similar plan. Employers can take a tax deduction for their contributions, much like a traditional IRA.

Open account


Build a solid foundation for your future—wherever that future may take you. Simply make a deposit and watch it grow- it’s that easy.

Certificate IRAs

While the rates in IRAs can change quarterly, you can maximize your savings by fixing the rate to the term of your choosing.

Terms and Conditions

Rates effective as of 05/30/2024.

Annual Percentage Yields (APY) are variable and effective as of 05/30/2024. Certificate IRAs rates are fixed upon opening the account. Dividends accrue on a daily basis. Less than 12 months Certificate dividends post at Certificate maturity. Withdrawal before maturity subject to penalty, as stated in. Current information may be different than shown. Truth-in-Savings Disclosure. Certificate rates are subject to change at any time. 

*Six months Certificate IRAs and IRAs dividends may be withdrawn monthly.

Selfreliance FCU and its employees do not provide tax, legal or accounting advice. Information presented on here is not intended to provide, and should not be relied on for tax, legal and accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any financial transaction.

For more information, please refer to the Rates and Truth-In-Savings Disclosures sections of this website.

back to top