Save for Your Larger Life Goals
Live the way you want when your working days are done or give your children the gift of tax-free money to pay for their education expenses. We offer several individual retirement account (IRA) options to choose from. Each IRA has its own tax implications, and you should consult a tax advisor before choosing the one that will be best for you.
Traditional IRA
Potential Tax Savings Today
A Traditional IRA helps you save for retirement with earnings that grow tax-deferred until withdrawal. Depending on your income and tax situation, your contributions may also be tax-deductible, helping you reduce your taxable income today while preparing for the future.
- Maximum contribution is $7,000 per year.
- $1,000 catch up contributions available for those over the age of 50
- Normal distributions are allowed after the age of 59½
- Withdrawals at retirement taxed at then current rate
Roth IRA
Tax-Free Withdrawals In Retirement
A Roth IRA allows your retirement savings to grow tax-free, and qualified withdrawals in retirement are generally tax-free as well. While contributions are made with after-tax dollars, this account can provide valuable tax advantages later in life.
- Maximum contribution is $7,000 per year.
- $1,000 catch up contributions available for those over the age of 50
- Normal distributions are allowed after the account has been held for at least 5 years and after the age of 59½
- Withdrawals from the account at retirement are tax-free
Coverdell IRA ESA
Build an Education Fund
Plan ahead for your child’s education with a Coverdell IRA Education Savings Account. Save for qualified expenses like tuition, books, and more from elementary school through college while keeping flexibility to transfer unused funds to another family member if needed.
- Maximum contribution is $2,000 per year per child
- Can be rolled over to another relative if not used by the original individual named
- Can be opened as an IRA Savings or Certificate
Retirement Account Rates
As of 06/09/2026
| Account | Opening Deposit | Minimum Balance for APY | Dividend Rate | APY |
|---|---|---|---|---|
| IRA Savings |
$50 |
$500 |
0.05% |
0.05% |
APY = Annual Percentage Yield. There is a $10 IRA Maintenance fee per year. The rate may change after the account is opened and is accurate as of the last dividend declaration period. Fees could reduce earnings. Refer to Schedule of Fees & Services for details.
IRA Certificate Specials
As of 06/09/2026
You can also open any regular Certificate Account as a Traditional, Roth, or Coverdell IRA.
Term
Opening Deposit
Dividend Rate
APY
13 Month Promo Certificate*
$1,000
2.96%
3.00%
22 Month Promo Certificate*1
$1,000
3.20%
3.25%
48 Month Promo Certificate**
$1,000
3.44%
3.50%
*13-month and 22-month promotion: Requires funds transferred from other financial institution(s). The minimum deposit to open and earn stated Annual Percentage Yield (APY) on share certificates at American First Credit Union is $1,000. Rates subject to change at any time. Funds must remain on deposit until maturity to earn the stated APY. Penalty may be imposed for early withdrawal. Early withdrawal penalty will be equal to one-half of the term’s dividends on the amount withdrawn, whether earned or not, and may reduce principal. No maximum deposit.
122-month promotion: Available for personal accounts only.
**48-month promotion: Funds on deposit at AFCU are not eligible for this promotion unless matched with outside (new) funds from another financial institution. The minimum deposit to open and earn stated Annual Percentage Yield (APY) on share certificates at American First Credit Union is $1,000. Rates subject to change at any time. Funds must remain on deposit until maturity to earn the stated APY. Penalty may be imposed for early withdrawal. Early withdrawal penalty will be equal to one-half of the term’s dividends on the amount withdrawn, whether earned or not, and may reduce principal. No maximum deposit.
IRA Certificate Rates
As of 06/09/2026
Term
Opening Deposit
Dividend Rate
APY
3 Month
$1,000
0.55%
0.55%
6 Month
$1,000
0.70%
0.70%
12 Month
$1,000
0.90%
0.90%
24 Month
$1,000
1.19%
1.20%
36 Month
$1,000
1.29%
1.30%
48 Month
$1,000
1.34%
1.35%
60 Month
$1,000
1.49%
1.50%
