Start saving for your financial future today!
Set up a payroll deduction to your savings for each payday and the money will be deposited automatically into your account. This is the easiest way to save! In the meantime, your nest egg is growing on a regular basis. Before you know it, you’ll have enough saved to purchase or put a down payment on the items you need and want.
Share Certificates
Share Certificates combine the safety of insured funds with a greater earning potential than a regular Share Savings Account. You’ll earn a higher rate of return than regular savings accounts because you are agreeing to keep the funds on deposit in the account for a designated period of time. Money withdrawn before the maturity date may be subject to penalty. PFFCU offers terms as short as 6 months and as long as 5 years. Generally, longer terms will earn higher rates.
Individual Retirement Accounts (IRAs)
Traditional
• Contributions are often tax-deductible
• Earnings grow tax-deferred
• After age 59.5, you can withdraw funds without any IRS premature penalty
• Distributions are taxable
Roth IRA
• Contributions are not deductible
• Earnings grow tax-free (if certain conditions are met)
• Generally, after age 59.5, distributions can be made tax-free and penalty-free
At Priority First, IRA funds can be deposited into a Share Savings Account or a Share Certificate Account. Ask your tax preparer or accountant which IRA program is right for you!