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Individual Retirement Account (IRA)

Invest

in your future.

Tomorrow never looked better.

Choose a Traditional IRA, Roth IRA, or Coverdell ESA and save for tomorrow while reaping immediate and future tax-saving benefits.

Retirement planning made easy.

Open a Daily or Certificate IRA with First Entertainment. Here are the differences:

Calculator

Start Saving Today

Earn high dividends when you open a Daily IRA with no minimum balance.

Calendar

Grow Your Savings with a CD

Earn higher dividends with terms from 6 months to 5 years and a required minimum deposit of $1,000. Early withdrawal penalties apply as per IRS regulations.

Get today’s best rate.

IRA (Daily)

Minimum Opening Balance

Minimum to Earn APY

APY*

*APY = Annual Percentage Yield. APY is based on the assumption that dividends remain on deposit for the entire dividend period.

Minimum Opening Balance

$0.00

Minimum to Earn APY

$0.00

APY*

0.40%

Retirement Certificates

Term

$1,000 Minimum

$25,000 Minimum

$100,000 Minimum

*Annual Percentage Yield: APY is based on the assumption that dividends remain on deposit for the entire dividend period.

**APY=Annual Percentage Yield. Rate and term valid as of December 18, 2023, for a 7-month Term Savings Certificate only. New 7-month Term Savings Certificate minimum balance required of $2,500 or more to earn 5.10% APY. The maximum total deposit amount for a 7-month Term Savings Certificate is $5,000,000.00 per member. After the account is opened, additional deposits to the Account are not permitted. Dividends accrue daily and are paid monthly and at maturity, but penalties for early withdrawal may apply. At the end of the promotional 7-month Savings Certificate, funds will roll over to a standard non-promotional 6-month Term Savings Certificate at the then current rate. See the Term Savings (Certificate) Account Agreement and Disclosure for terms and conditions. Rate and offer are subject to change at any time without notice. Must be a member or qualify for membership to open a certificate. Membership eligibility rules apply.

IRA Certificates are also available for the rates and terms shown above. Dividends are paid monthly and at maturity. Early withdrawal penalties may apply. For complete agreement and disclosure, click here.

Rates and yields listed above apply only to the dates listed above and are subject to change without notice. All accounts are insured up to at least $250,000 by the NCUA, a U.S. Government Agency.

Fees and penalties may reduce principal.

Term

6 Months

$1,000 Minimum

2.45% APY*

$25,000 Minimum

2.60% APY*

$100,000 Minimum

2.75% APY*

Term

Special 7 Months Promo

$1,000 Minimum

N/A

$25,000 Minimum

5.10% APY** ($2,500 minimum, new and existing funds)

$100,000 Minimum

5.10% APY** ($2,500 minimum, new and existing funds)

Term

1 Year

$1,000 Minimum

2.75% APY*

$25,000 Minimum

2.90% APY*

$100,000 Minimum

3.05% APY*

Term

2 Years

$1,000 Minimum

3.00% APY*

$25,000 Minimum

3.15% APY*

$100,000 Minimum

3.30% APY*

Term

3 Years

$1,000 Minimum

3.25% APY*

$25,000 Minimum

3.40% APY*

$100,000 Minimum

3.55% APY*

Term

4 Years

$1,000 Minimum

3.50% APY*

$25,000 Minimum

3.65% APY*

$100,000 Minimum

3.80% APY*

Term

5 Years

$1,000 Minimum

3.75% APY*

$25,000 Minimum

3.90% APY*

$100,000 Minimum

4.05% APY*

Choose your retirement strategy.

Find the right IRA account that fits your financial needs.

IRAs earn dividends on all account balances and may be tax-deductible, but withdrawals are taxed. We offer Traditional IRAs with an opening contribution of just $1 and no set-up fee. You can arrange automatic monthly transfers from checking or savings as well as customize withdrawals as lump sums or periodic payments. After age 59 ½, withdrawals are penalty-free but are not tax-free. By age 73, you are required to take an Annual Required Minimum Distribution (RMD) which is taxable.

Traditional IRA Account Form

Traditional IRA Withdrawal Authorization Form

There is an Annual Traditional IRA Maintenance fee of $15.00 (See our Schedule of Fees)

A Roth IRA provides no tax deduction for contributions, but if qualified, all earnings are tax-free when you or your beneficiaries withdraw them. We offer Roth IRAs with an opening contribution of just $1 and no set-up fee. You can also arrange automatic monthly transfers from your checking or savings account. Other benefits include avoiding the early distribution penalty on certain withdrawals. If you can’t take a tax deduction for a Traditional IRA contribution, consider a Roth IRA. Consult a tax advisor to determine your eligibility.

After age 59 ½, all withdrawals are penalty fee & tax free, as long as funds have been in the account for at least 5 years.

Roth IRA Account Form

Roth IRA Withdrawal Authorization Form

There is an Annual Traditional IRA Maintenance fee of $15.00 (See our Schedule of Fees)

A Coverdell Education Savings Account (ESA) can help you save up to $2,000 per year, per child. They provide no tax deduction for contributions, but if you meet certain requirements, all earnings are tax free when you or your beneficiary withdraw funds and use them for qualified education expenses.

Coverdell ESAs Account Form

There are no Annual Maintenance Fees for Coverdell ESA’s.

Open a new IRA

Select which IRA account you’d like to open from one of the options:

  • Traditional IRA
  • Roth IRA
  • Coverdell ESA
  • Download and fill out the linked form (PDF)
  • Submit it via Secure Message, or print it out and turn it in person at any of our branches or mail it to us (Post Office Box 2428, Hollywood, CA 90078-2428).
  • Once completed forms are received and reviewed, an IRA Specialist will contact you to finalize your request.
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Rollover an existing IRA

If you already have an IRA with us and want to roll over or transfer another IRA, download, fill out, and submit one of the forms below:

Traditional IRA Contribution & Investment Selection

Roth IRA Contribution & Investment Selection

If you’d like to meet with a representative to open an account, please contact us during business hours using Live Chat via our website or by calling 888.800.3328.

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Open an IRA today.

It’s easy to get started by calling us during business hours, using Live Chat via our website, or stopping by a branch to open an account.

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888.800.3328
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Disclosures

As of January 1, 2015, the IRS has changed its interpretation of the “one-per-12 month rule.” A court decision ruled that a taxpayer is limited to one rollover per 12-month period, regardless of the number of IRAs they have. Prior to this ruling, the IRS allowed that you could roll over one IRA distribution per 12-month period for each IRA you owned.
The 12-month period begins on the day that you receive the IRA distribution. In addition, the IRA assets that are rolled over may not be rolled over more than once during the 12-month period.
You may now only roll over one (1) IRA distribution in any 12-month period regardless of how many IRAs you own. You may still perform an unlimited number of transfers.
Due to this change, before rolling over an IRA distribution please consult with your tax advisor.