IRA retirement savings made simple
Start saving for retirement today with a Webster First Individual Retirement Account. We offer Traditional IRAs and Roth IRAs designed to accommodate your retirement plans, whether you’re bound for sunny Florida, Napa Valley, or right here at home in New England.
To open an IRA, please visit one of our branches.
Find a BranchIRA benefits
No annual fee
An IRA is a safe investment. Keep your money just that – yours
Flexibility for your lifestyle
Deposits can be made throughout the year (restrictions apply)
Convenient online access
IRA balances and transaction history are accessible with online banking
IRAs offered at Webster First
Traditional IRA
A Traditional IRA at Webster First allows you to defer taxes on earnings until they are withdrawn. Some contributions are also tax deductible in the tax year in which you make them.
- Members under the age of 50 may contribute up to $6,500 per year
- Members who are 50 or older may contribute $6,500 per year, plus a catch-up contribution of $1,000
- Eligible individuals with earned income may contribute
ROTH IRA
A ROTH IRA at Webster First allows only non-deductible (after-tax) contributions and features tax-free withdrawals for certain distribution reasons after a five-year holding period.
- Individuals may contribute up to 100% of earned income or $6,500, whichever is less
- Members who are 50 or older may contribute $6,500 per year, plus a catch-up contribution of $1,000
- Eligible individuals with earned income may contribute
Spousal IRA
Spousal IRAs offer better services for members who are married. Couples are only eligible if they file a joint federal tax return.
- Each spouse can contribute up to $6,500 per year for a total of $13,000 if under age 50
- Each spouse age 50 or older may contribute up to $6,500 per year, plus a catch-up contribution of $1,000, for a total of $15,000
- One spouse must have eligible compensation
Our IRAs come with award-winning service
2022 Winner: Best of Central Mass
Rated 5 Stars by Bauer
2021 Winner: Best of Central Mass
Current IRA rates
| Type | Rate | APY1 | Min Balance |
|---|---|---|---|
| 9 Month Special² | 4.90% | 5.02% | $1,000 |
| 12 Month | 1.50% | 1.51% | $100 |
| 13 Month | 4.00% | 4.08% | $100 |
| 15 Month Special² | 5.10% | 5.23% | $1,000 |
| 24 Month | 1.50% | 1.51% | $100 |
| 36 Month | 1.50% | 1.51% | $100 |
| 48 Month | 1.50% | 1.51% | $100 |
| 60 Month | 1.50% | 1.51% | $100 |
2:Minimum balance to obtain these rates is $1,000 and cannot be transferred from an existing Webster First Federal Credit Union account. Limited time offer.
All rates subject to change without prior notice. Fees may reduce earnings.
Retirement Calculators
- Which is better for me, a Traditional IRA or a Roth IRA?
- How much will my Traditional IRA be worth at retirement?
- How much will my Roth IRA be worth at retirement?
- How long will my retirement savings last?
- What rate do I need to support my retirement?
- How much do I need to fund my retirement?
- How much can I spend each month in retirement?
Requirements to open
- Must live, work, worship, or attend school in Essex, Middlesex, Suffolk, or Worcester County or be a current Webster First member
- $100 minimum deposit
- Must be opened in person at one of our local branches
