Retirement is a wonderful thing. An IRA from CFSB helps keep it that way by establishing financial backing for your future dreams. We offer both Traditional and Roth plans — each with unique tax advantages. Benefit from interest above standard savings, helping you get closer to the perfect future that you deserve. Whether your ideal retirement looks like a golf course, a boat, or down time with the family, keep it within your reach by opening an account today.

  • Save for retirement with tax advantages*
  • Earn competitive interest higher than regular savings
  • Pays monthly interest
  • Available in Traditional and Roth
  • Annual contribution limits apply*
  • $1,000 annual “catch up” contributions allowed for ages 50 and better
  • No annual fees or set up fees
  • No minimum balance requirements
  • Funds can be used to purchase CDs within IRA
  • Automatic deposits available to make saving easier ($25 minimum)
  • Federally insured
  • $50 minimum deposit to open
Traditional vs. Roth

There are advantages to both Traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A Traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA

  • No income limits to open
  • No minimum contribution requirement
  • Contributions are tax deductible on state and federal income tax*
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59 ½
  • Early withdrawals subject to penalty*
  • Mandatory withdrawals at age 70 ½

Roth IRA

  • Prepare for qualified medical expenses
  • Income limits to be eligible to open Roth IRA*
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal*
  • Principal contributions can be withdrawn without penalty*
  • Withdrawals on interest can begin at age 59 ½
  • Early withdrawals on interest subject to penalty*
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income
Coverdell ESA

Higher education can become a financial burden. A Coverdell Education Savings Account (ESA) is designed to help lighten the load. 

  • Set aside funds for your child's education
  • Interest grows tax-free*
  • Withdrawals are tax-free and penalty-free when used for qualifying education expenses*
  • Designated beneficiary must be under 18 when contributions are made
  • To contribute to an ESA, certain income limits apply*
  • Contributions are not tax deductible
  • Contributions are allowed regardless of traditional or Roth IRA participation
  • $2,000 maximum annual contribution per child
  • The money must be withdrawn by the time beneficiary turns 30
  • The ESA may be transferred without penalty to another member of the family
  • Subject to dormancy fee for account inactivity**

A more secure tomorrow starts today.

*Consult a tax advisor.