Locations & Hours Forms Help Desk Contact Us Home Checking & Savings Loans Investments Business Services & Benefits Rates About IRAs Family Security offers three types of Individual Retirement Accounts (IRAs) for your consideration. Both Traditional and Roth IRAs are available in the form of IRA Shares and IRA CDs at Family Security Credit Union. Traditional IRA Tax deferred until withdrawn Regular contributions may be tax deductible No age limit for regular contributions as long as IRA owner has earned income or spouse has earned income Contributions are subject to IRS annual contribution limits Rollovers are accepted from Traditional IRAs, Simple IRAs, SEP-IRAs, qualified plans, 403(b) plans and governmental 457 plans Most traditional IRA distributions are subject to income taxes. Distributions may be taken at any time and will be treated as ordinary income Non-qualified distributions may be subject to the 10% early withdrawal penalty Roth IRA Earnings tax deferred until withdrawn Earnings may be withdrawn tax-free if the owner has a qualified distribution: The IRA owner is 59 ½ or older, is disabled, is deceased, or the distribution qualifies as a first time home purchase, AND The IRA owner has had a Roth IRA for 5 years Contributions are subject to IRS annual contribution limits No age limit for regular contributions Can accept rollovers from Roth IRAs and Roth 401(k) accounts. A traditional IRA and a qualified plan can be converted to a Roth IRA. Distributions may be taken at any time and are tax and penalty free if a qualified withdrawal Non-qualified distributions may be subject to the 10% early withdrawal penalty Not required to take minimum distributions View our current rates. Related Links Rates for Share Certificates Rates for IRAs Privacy Policy | Link Disclaimer | ADA Web Accessibility Statement Copyright © Family Security Credit Union - All Rights Reserved Website designed by Red Sage Communications, Inc.