Individual Retirement Accounts (IRAs)

It’s never too soon to start saving for the future. Whether you’re planning ahead for your child’s educational expenses or your own retirement, an Individual Retirement Account (IRA) from Interior Federal is a smart choice.

Our IRA Center gives you online options for opening your Individual Retirement Account, managing it, and connecting with IRA Specialists in the comfort and privacy of your own home. It also has educational articles on IRAs and retirement planning, planning tools, risk analyzers, investment options and the forms you need to complete your transactions.


We offer two types of IRAs: Traditional and Roth. Here are a few of the basic differences:

Traditional IRARoth IRA
Contributions are tax-deductibleContributions are not tax-deductible
Earnings grow tax-deferredEarnings grow tax-free
Withdrawals are taxed
Qualified withdrawals are tax-free
Contribute as long as you have earned income
Contribute as long as you have earned income
Mandatory age distribution at age 72No mandatory distribution

Consult with your tax advisor. To learn more, take advantage of our free Retirement Planning Resources. We’re here to help you plan ahead and choose the options that best fit your personal situation!

Once you have decided to open an IRA Savings account, you can choose to invest those funds into an IRA Certificate.

Benefits of investing in an IRA Certificate :

  1. Various terms – From 6 to 60 month terms that provide you flexibility.
  2. Minimum Deposit – Open with as little as $500 for a regular IRA Certificate or with $100,000 for a Jumbo.
  3. Higher Returns – IRA Certificates earn more than IRA Savings.
  4. Guaranteed savings – Other investments can be risky, so guaranteed returns provide you peace of mind for your retirement.

Open an IRA Certificate Today.

An IRA-to-IRA rollover moves money between like IRAs. The IRA assets that you plan to roll over are paid directly to you. You would in turn forward those funds to the credit union to complete the transaction. 

IRA assets to another IRA can only be rolled over once every 12 months. One year must pass after taking a distribution and rolling it over before you are eligible to roll over another distribution from any of your IRAs. 

  • There is no limit to the number of rollovers you may perform from any of your eligible employer-sponsored retirement plans to a Traditional IRA. 
  • Any required minimum distributions paid to an IRA owner or beneficiary may not be rolled over. 
  • A rollover generally must be completed within 60 days from the date you receive the assets. 
  • A rollover contribution of Roth IRA assets may not be made to a Traditional IRA. 

If you want to move assets between two like IRAs (e.g., Traditional IRA to Traditional IRA), the simplest way to do so is through a transfer. Transferring assets prevents you from actually receiving the money when it comes out of the IRA. 

  • You may perform an unlimited number of transfers. 
  • A transfer contribution may not be made from a Roth IRA.  

The credit union can initiate the transfer or you may do so with your other financial institution. If you initiate the transfer, you must provide a copy of your statement. 

Current IRA rates:

Individual Retirement Account (IRA), Roth and Education Savings Account (ESA) Rates

BalancesDividend RateAPY*
No minimum deposit0.25%0.25%

Links within this calculator lead to a third party site, Interior Federal does not provide and is not responsible for the product, service, overall website content, security, or privacy policies on any external third-party sites. Results from use of this calculator are for illustrative purposes, and do not constitute a guarantee.

You can also open an IRA Certificate for either type of IRA through Interior Federal.

If you are saving specifically for education or health expenses, we recommend considering a Coverdell Education Savings Account or a Health Savings Account.

*APY = Annual Percentage Yield. More details are available in our Schedule of Fees and Charges, Truth-In-Savings Disclosure and Membership Disclosure.

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