Save for the golden years. IRAs are an attractive vehicle for your retirement savings. First Federal offers both traditional and Roth IRA plans.
IRAs provide the following benefits:
Security
By contributing to an IRA, you are taking steps toward a sound financial future.
Tax-Deferred Earnings
Traditional IRA dollars are tax sheltered, meaning the earnings are not taxed until you withdraw them from the IRA.
Tax Free
Earning
Roth IRA contributions are post-tax, best growth is tax free and there are no minimum distribution requirements.
Tax Deductions
You may be eligible to take a tax deduction for your IRA contribution (please see a tax professional to see if you are eligible for this benefit).
Tax Credit
You may be eligible to receive a non-refundable tax credit for contributions made to Traditional and ROTH IRAs (please see a tax professional to see if you are eligible for this benefit).
Access
If you need to withdraw some of your IRA money, you can. While you will generally pay a 10% I.R.S. penalty on early withdrawals, you can access your money if necessary (you may also incur an early withdrawal penalty if you need to withdraw all or part of the principal portion of your certificate of deposit account (prior to maturity).
Flexibility
You decide each year how much you can afford to save. If all eligibility requirements are met, you can contribute up to $4,000 per year (plus catch up contributions, if eligible).
Traditional IRA’s
$100.00 Minimum
2 year Certificate of Deposit
Roth IRA’s
$100.00 Minimum
2 year Certificate of Deposit
First Federal Savings & Loan
reserves the right to deny
deposits from outside our
designated lending area.
Contact our friendly and knowledgeable IRA officers for more information.
Notice: This web site contains links to outside web sites. These sites are not owned, operated, controlled or reviewed by First Federal Savings & Loan. These links are provided solely as a courtesy and convenience to you, the visitor. Upon clicking the provided link, you will be leaving First Federal's web site.
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First Federal Savings and Loan will never request any confidential information from a customer such as account number, social security number, PINs or passwords by email or phone call. Never give out confidential information unless you have originated a voice or in-person conversation and we are requesting this for identification reasons.
Only enter your on-line banking accounts through the First Federal Savings & Loan website.
www.firstfederalmattoon.com
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~ Conveniently Located To Serve You ~ 1111 Charleston Avenue
Mattoon, IL 61938
217-235-5411
