Individual Retirement Accounts

• Tax-advantaged retirement savings*
• Competitive dividends above standard savings rates
• Traditional and Roth IRA options
• No setup fees
• No monthly or annual maintenance fees
• Annual contribution limits apply (see current contribution limits; $7,000 as of 2025)
• Additional $1,000 "catch-up" contribution allowed for ages 50+
• Funds can be deposited into our IRA Savings Account and IRA Certificates of Deposit (CD)
• $100 minimum deposit to earn dividends on the IRA Savings Account 

IRAs are insured separately from your other accounts. Your IRA is federally insured by NCUA up to $250,000. An additional $250,000 insurance coverage is provided on IRA accounts by Excess Share Insurance, a private insurer.

To take control of your own IRA account, click here.

There are two kinds of IRAs to choose from, each with distinct tax advantages. Compare them and consult a tax advisor to help you decide which one is right for you. 

Traditional IRA

Anyone who has earned compensation or files income tax jointly with a spouse who has earned compensation can contribute. 

• No minimum contribution per year
• Contributions may be tax deductible*
• Earnings are tax deferred until withdrawal
• Penalty free withdrawals can begin at age 59½
• Early withdrawals are subject to penalty**
• Mandatory withdrawal age increased to 73 in 2023 and will increase to 75 in 2033.

For more information regarding Required Minimum Distributions, please visit the IRS website.

Roth IRA

Anyone with earned compensation or files income tax jointly with a spouse who has earned compensation and is within certain income limits can contribute. 

• Contributions are NOT tax deductible
• Earnings are tax deferred*
• Contributions can be withdrawn without tax or tax penalty
• Early withdrawal of interest is subject to income tax and possible tax penalty**
• No mandatory distribution
• Qualifying withdrawals are tax free*** 

*Subject to some minimal conditions. Consult a tax advisor.

**Certain exceptions apply, such disability, first time home purchase, etc. 

***Account must be open for 5 years and after age 59½, first time home purchase, disability or death of the owner.

Do you need to complete an IRA transaction, but can't make it into a branch? Retirement Central can help! 

Within the Retirement Central website, you are given information and ideas that you can apply to help achieve financial security in retirement.

What is Retirement Central?

With Retirement Central, you can complete and electronically sign forms to request a contribution to be transferred into your First Community Credit Union IRA or HSA from your First Community Credit Union Savings or Checking account.

You can also complete and electronically sign forms to request a withdrawal from your IRA or HSA.

Prefer printing the documents? That works too! You can complete the forms online, print them, and mail them in with a check (address below).

Don’t have an IRA or HSA?

Retirement Central allows you to open your IRA or HSA online, as long as you are a member and primary account holder.

Printing IRA Forms

You can complete the Retirement Central forms, print them, and then either mail them to us or drop them off at your nearest branch.

Please contact the IRA Department at (636)537-4496 with questions. 

Address for completed forms:

First Community
Attn: IRA Department
P.O. Box 1030
Chesterfield, MO 63006