Individual Retirement Accounts (IRA's)

An IRA (Individual Retirement Account) is one of the best ways to save for retirement, and it is never too early to begin. We can help you achieve your retirement goals through one of our insured IRA accounts. Mutual 1st Federal offers Traditional and Roth IRA's. If you are saving for a youngster's education, we also offer Coverdell Education Savings Accounts. These accounts were formally known as Education IRA's.

You may contribute $5000 annually to your Traditional or Roth IRA accounts. Your spouse may also make contributions to their IRA in the same amounts as a spousal contribution. In addition, if you are age 50 or older you may make a "catch-up" contribution of $1000 annually.

The Education IRA has been renamed the Coverdell Education Savings Account. The contribution limits are $2000 per child, per year. In addition, prior year contributions may also be allowed for this account type.

You may place your IRA Funds into regular savings or term certificate accounts to best fit your needs.

Rates | Contact Us