Saving Today for Tomorrow
It’s never too early to start saving for retirement or education expenses. Our Traditional and Roth IRAs offer a consistent and reliable way to build retirement savings over time. Our tax-deferred Education Savings Account is also a great way to save for future education expenses.
Receive Perks Now When Planning for Later
Gain Compound Interest
Enjoy Tax-Deferred Savings
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Learn moreExplore Our IRA Plans
Traditional IRA
Individuals can set aside money each year and plan for retirement, with earnings tax-deferred until withdrawals begin at 59 ½ or later.
- Eligibility – You can contribute if you have taxable compensation and are under age 70.
- Max Contribution Under Age 50 – $6,000
- Max Contribution Over Age 50 – $7,000
- Tax Deductible – Yes
- Tax on Earnings – Grows tax-deferred until withdrawn
- Tax on Withdrawal – Yes, withdrawals are taxed as income
- Requirement for Age to Withdraw – Age 70 ½
- Withdrawal Penalty – Most withdrawals before age 59½ result in IRS penalties
- Legal/Disclosures – Learn more about IRAs by visiting the IRS Government website. Consult your tax advisor for eligibility and best options for your situation.
Education Saving Account
This tax-deferred trust assists families in funding qualified educational expenses for beneficiaries 18 years old or younger.
- Max Contribution Per Child Under Age 18 – $2,000
- Tax Deductible – No
- Tax on Earnings – No
- Tax on Withdrawal – No
- Requirement for Age to Withdraw – Must be liquidated by age 30
- Withdrawal Penalty – Funds withdrawn and not used for education expenses will result in IRS penalties
- Legal/Disclosures – Learn more about IRAs by visiting the IRS Government website. Consult your tax advisor for eligibility and best options for your situation.
Roth IRA
Singles and couples can plan for retirement and set aside money each year, with tax-deferred earnings.
- Eligibility – You can contribute at any age if you have taxable compensation and your modified adjusted gross income is below certain amounts
- Max Contribution Under Age 50 – $6,000
- Max Contribution Over Age 50 – $7,000
- Tax Deductible – No
- Tax on Earnings – Grows tax-free if held for at least five years
- Tax on Withdrawal – No tax on contributions or on earnings after age 59 ½
- Requirement for Age to Withdraw – No requirement
- Withdrawal Penalty – Most withdrawals before age 59½ result in IRS penalties
- Legal/Disclosures – Learn more about IRAs by visiting the IRS Government website. Consult your tax advisor for eligibility and best options for your situation.
Traditional IRA
Individuals can set aside money each year and plan for retirement, with earnings tax-deferred until withdrawals begin at 59 ½ or later.
- Eligibility – You can contribute if you have taxable compensation and are under age 70.
- Max Contribution Under Age 50 – $6,000
- Max Contribution Over Age 50 – $7,000
- Tax Deductible – Yes
- Tax on Earnings – Grows tax-deferred until withdrawn
- Tax on Withdrawal – Yes, withdrawals are taxed as income
- Requirement for Age to Withdraw – Age 70 ½
- Withdrawal Penalty – Most withdrawals before age 59½ result in IRS penalties
- Legal/Disclosures – Learn more about IRAs by visiting the IRS Government website. Consult your tax advisor for eligibility and best options for your situation.
Roth IRA
Singles and couples can plan for retirement and set aside money each year, with tax-deferred earnings.
- Eligibility – You can contribute at any age if you have taxable compensation and your modified adjusted gross income is below certain amounts
- Max Contribution Under Age 50 – $6,000
- Max Contribution Over Age 50 – $7,000
- Tax Deductible – No
- Tax on Earnings – Grows tax-free if held for at least five years
- Tax on Withdrawal – No tax on contributions or on earnings after age 59 ½
- Requirement for Age to Withdraw – No requirement
- Withdrawal Penalty – Most withdrawals before age 59½ result in IRS penalties
- Legal/Disclosures – Learn more about IRAs by visiting the IRS Government website. Consult your tax advisor for eligibility and best options for your situation.
Education Saving Account
This tax-deferred trust assists families in funding qualified educational expenses for beneficiaries 18 years old or younger.
- Max Contribution Per Child Under Age 18 – $2,000
- Tax Deductible – No
- Tax on Earnings – No
- Tax on Withdrawal – No
- Requirement for Age to Withdraw – Must be liquidated by age 30
- Withdrawal Penalty – Funds withdrawn and not used for education expenses will result in IRS penalties
- Legal/Disclosures – Learn more about IRAs by visiting the IRS Government website. Consult your tax advisor for eligibility and best options for your situation.
Rates are accurate as of October 29, 2025 and are subject to change without notice.
IRA Rate Chart
Looking for a way to save for retirement? Watch your money grow with an IRA.
Dividends are posted monthly for all IRA accounts.
Rates are accurate as of October 29, 2025 and are subject to change without notice.
Member Testimonial
“I always feel welcomed, wanted, and heard. The tellers are friendly but professional, and they work expediently without making me feel rushed. When they recommend different banking services, it always feels like a recommendation from a friend rather than a sales pitch.”
Ready to Open an Account?
For more information or to open an account, schedule an appointment, call 850.488.0035 or 1.800.533.5772, or visit any of our locations.
Additional Savings and Investment Considerations
Certificates of Deposit
Lock in higher returns at a fixed rate when you commit to saving for a specific period of time.
Six Pillars Financial Advisors
Schedule time with Six Pillars Financial Advisors, a subsidiary of First Commerce, for free comprehensive financial planning to help you pursue your financial goals.
Savings Accounts
If you’re looking for more flexibility with your savings, we offer traditional savings accounts too.
Certificates of Deposit
Lock in higher returns at a fixed rate when you commit to saving for a specific period of time.
Six Pillars Financial Advisors
Schedule time with Six Pillars Financial Advisors, a subsidiary of First Commerce, for free comprehensive financial planning to help you pursue your financial goals.
Savings Accounts
If you’re looking for more flexibility with your savings, we offer traditional savings accounts too.
Your Financial Partner for Life
Established in 1940, First Commerce is a full-service, not-for-profit credit union with locations across North Florida and South Georgia. We are a member-owned cooperative and committed to the communities we serve. Our purpose is to empower people to enhance their financial well-being by helping them achieve their financial goals – whether it’s simplifying their day-to-day finances, buying their first car or home, or building a great retirement. When you bank with First Commerce, you get a truly personal experience backed by 85 years of financial expertise.
$50 minimum opening deposit required.
