IRA Accounts

IRAs are a great way to save for a comfortable, secure retirement, pay for higher education or buy a first home. Whatever fits your needs, we offer all three plans including the Traditional, Roth and Educational IRAs.

Traditiona IRA

Funds deposited in a Traditional IRA are free from federal taxes until you take the money out at retirement. The funds may also be tax-deductible, so check with your tax advisor.*

Roth IRA

With a Roth IRA, your contributions are made with after-tax dollars, and your withdrawals after retirement are tax-free, providing you conform to the plan requirements.*

Your income, tax bracket, years until retirement and other factors will help determine if a Roth or traditional IRA is best for you. Ask your tax advisor for assistance.*

Coverdell IRA

Because college is getting more and more expensive, a Coverdell IRA is a great way to save for a child’s higher education. You may contribute up to $2,000 a year in an account to pay for qualified expenses at an eligible institution. Contributions to a Coverdell IRA are made in after-tax dollars; however, the credit union dividends are not taxed, and there is no tax on withdrawals used for education.*

IRA Certificates

Traditional Certificates, Roth Certificates and Educational IRA Certificates are available from 6 to 60 month terms with a minimum deposit of $1,000 and competitive dividend rates.

Member Rewards

Build your relationship with Miami Firefighters FCU. With our Member Rewards program the more you use your credit union for loans, checking and savings accounts, the more your credit union prospers and grows and this means more and better services and pricing for you.

For your protection IRA accounts are separately insured up to $250,000, independent of your other credit union accounts by the National Credit Union Administration (NCUA).  See NCUA Calculator for more information.

*Consult your tax advisor for details regarding your specific situation.