First Reliance FCU offers a share savings IRA that
pays the same quarterly interest rate as share savings
accounts. 12 month up to 30 month certificates are also
available. A minimum of $1,000.00 is required to set
up a share certificate.
Individual retirement accounts are a smart way to
save for the future. A traditional IRA can be opened
and funded without any employer participation. Contributions
and/or earnings are tax-deferred until retirement. Unlike
many employer plans, money in the account is always
accessible; however, until age 59 1/2 there is a 10
percent early distribution penalty unless you qualify
for an exemption due to one of the following: disability,
qualifying education expenses, unemployment, qualifying
first-home purchases, death, or receipt of your IRA
assets in equal payments over your life expectancy.
Members under age 70 1/2 may contribute to an IRA
at a maximum of $3,000 per year for tax years 2002 -
For more information on a traditional IRA please contact
the Member Services Department at the nearest branch
office. Click here
for branch office phone numbers. To view current rates
or click here
for the retirement claculator.