Retirement savings made simple
Start saving for retirement today with a Webster First Federal Credit Union IRA. We offer a variety of 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
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A Traditional IRA at Webster First allows you to defer taxes on earnings until they are withdrawn.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
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
Current Rates
| Type | Rate | APY1 | Min Balance |
|---|---|---|---|
| 12 Month | 1.50% | 1.51% | $100 |
| 13 Month | 2.75% | 2.79% | $100 |
| 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 |
| 9 Month Special² | 4.15% | 4.24% | $1,000 |
| 15 Month Special² | 4.40% | 4.50% | $1,000 |
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.
Award-winning service
2020 Winner: Best of Central Mass
2019 Winner: Best of Central Mass
Rated 5 Stars by Bauer
2018 Winner: BBB Marketplace Excellence
Why choose Webster First?
Smart money decisions are in our DNA
Webster First is one of the most well capitalized credit unions in Massachusetts as a result of our hard work and determination to make the best possible financial decisions. With our experience and dedicated team, we’re confident we can help you make the right financial decisions too.
Local, neighborly know-how
Our roots are in Massachusetts, opening our first branch in the small town of Webster back in 1928. Since then we’ve grown to over $1.2 billion with over 80,000 members who trust us with their banking. Since our banking team is locally grown too, they personally care about the success of their neighbors and community.
Authenticity you can trust
As New Englanders, we believe in being upfront and honest. You can expect straightforward answers to all your questions. Each relationship starts with trust and it’s the cornerstone of our acclaimed member service.