Individual Retirement Accounts help members save for retirement.  The earlier you begin to save the better.  Fort Dodge Family Credit Union offers options for both Traditional IRA and Roth IRA.

It is important to know the difference between the two so that you can make the best decision on which option to select.  Perhaps you will conclude that you need a combination of both.

Our staff is knowledgeable on the difference and can provide you with the necessary information to help you make an informed decision.  The IRA savings pays competitive rates to help you maximize your return while knowing your deposits are safe and sound and you’ll never lose a penny.


A Traditional IRA allows you to save for retirement with tax deferred earnings and potentially tax deferred earnings.  

You can roll over retirement plan assets to your Traditional IRA.  All other contributions must be from earned income.  You will need to review the annual contribution limits and verify your annual income to determine if the contribution could be tax deductible.  


The Roth IRA was created in 1998.  The primary difference between the Roth and Traditional IRA is that the Roth IRA contributions are not deductible from your income. The benefit is when you withdraw the funds you are not taxed when you take the funds.  There are also other reasons for which you can withdraw the funds and not be subject to the 10% IRS penalty.