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Traditional IRA Accounts

Do more for your future - starting today! More choices. More freedom. More leisure time. More fun. That's pretty much what we all want for the future. People First FCU is here to help you get there, by putting the full power of tax-deferred savings to work for you in a Traditional Individual Retirement Account (IRA).

You can start saving for retirement today with an IRA Share Account or an IRA Share Certificate. Set up an automatic transfer for any designated amount to an IRA Share Account and watch your money grow.

Traditional IRAs Offer

Independence, and can be opened and funded without any employer participation,

Immediate tax benefits, with contributions and/or earnings tax-deferred until retirement,

Accessibility, with assets always available (something not generally true of employer plans), and

Flexibility, because IRA owners choose their contribution amount (within limits), investments, and the financial organization.

Contribution Requirements

  • You or your spouse has earned income from employment.
  • You can make a catch-up contribution each year of $1,000 if you are age 50 or older.

Maximum Annual Contribution

Tax YearUnder age 50Age 50 and Older
2019$6,000$7,000
2020$6,000$7,000

Tax deferrals

You don't pay taxes on earnings or pre-taxed dollars in your IRA until you begin receiving distributions. The required beginning date to receive distributions is based upon your date of birth. If you were born before July 1st 1949, it is no later than April 1 following the year in which you reach 70 ½. If you were born on or after July 1st 1949, it is no later than April 1 following the year in which you reach 72.

Open an IRA Today!

Opening an IRA is quick and easy. Simply visit any one of our branches and a Member Service Representative will be happy to meet with you.

Tax Deductions

Consult your financial advisor, accountant or tax advisor for information.


For more information please view our Consumer Account Agreement.

See our Consumer Fee Schedule for associated fees.

At People First FCU we are improving the accessibility and usability of our website for our members and potential members. Our efforts are based on the standards for Web Content Accessibility Guidelines (WCAG) 2.1. It is our policy to ensure that persons with disabilities have full and equal opportunity to benefit from our services on our website and on other online services. If you have any questions or need help with any content on our website or online services, please contact us at staff@peoplefirstcu.org or by calling our Member Service Center at 610.797.7440.

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Your savings are federally insured to at least $250,000 by the National Credit Union Administration and backed by the full faith and credit of the U.S. Government.

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