Individual Retirement Accounts (IRAs)

Contents:

IRA Savings Accounts at First Financial
Traditional IRA Accounts
Roth IRA Accounts
Coverdell Education Savings Account

IRA Savings Accounts at First Financial

An Individual Retirement Account helps you save for the future, and can give you both immediate and future tax saving benefits. If you have IRAs on deposit elsewhere, you should compare our rates and consider transferring your funds to First Financial.

Whether you choose a Traditional IRA, Roth IRA or Coverdell Education Savings Account, First Financial has flexible and high yielding IRA savings accounts for you. These IRA savings accounts and IRA certificates of deposit are fully insured by the NCUA for up to $250,000. Additional IRA options are available through Financial Dimensions, Inc.

IRA Savings Account. A special share savings account that pays high dividends, with flexibility and dividend rates that may rise or fall with the market.
IRA Share Certificate. Lock in our highest dividend rates for 6, 12, 18, 24 or 36 months. First Financial's IRA Certificates have a $500 minimum deposit, but our highest dividends are available with a $2,000 minimum deposit. Since these funds are going to be on deposit for your future, why not get the best return on your money by opening a certificate. There is a penalty for early withdrawal.
'Step-Up' IRA Certificates. The 'Step-Up' option, available on 18, 24 and 36-month IRA certificates, is a one-time opportunity to increase the interest rate to a higher rate. The new step-up rate is based upon the current rate for the same term certificate at the time the option is exercise. The certificate must be open for at least six months and the certificate maturity will remain the same as when it was originally opened. There is a penalty for early withdrawal.

Investment and Retirement Planning services are offered through Financial Dimensions, Inc., First Financial's wholly owned subsidiary.

Traditional IRA Accounts

For the 2007 tax year, save up to $4,000 per year in a traditional IRA. For the 2008 tax year, you may save up to $5,000 per year in a traditional IRA. This IRA may be tax deductible in the year of contribution, but any withdrawals are taxed as income. If you are not eligible for a tax deduction, due to high income or participation in another retirement plan, you should consider the Roth IRA.

For additional information about traditional IRAs, please contact Financial Dimensions, or your financial advisor.

Roth IRA Accounts

For the 2007 tax year, save up to $4,000 per year in a Roth IRA. The Roth IRA provides no tax deduction for contributions, but if you meet certain requirements, all earnings are tax free when you or your beneficiary withdraw them. Other benefits include avoiding the early distribution penalty on certain withdrawals, and avoiding the need to take minimum distributions after age 70 1/2. If you cannot take a tax deduction for a traditional IRA contribution, you should consider the Roth IRA.

For additional information about Roth IRAs, please contact Financial Dimensions, or your financial advisor.

For Traditional and Roth IRAs if you are over 50 an extra contribution of $1,000 can be made. Married couples filing jointly are eligible to make the maximum contribution to separate IRAs as long as combined income is equal to or greater than the contribution amount.

Coverdell Education Savings Account

Save up to $2,000 per year, per child in an Coverdell Education Savings Account. The Coverdell Education Savings Account provides no tax deduction for contributions, but if you meet certain requirements, all earnings are tax free when you or your beneficiary withdraw them and use them for qualified education expenses.

For additional information about Coverdell Education Savings Accounts, please contact Financial Dimensions, or your financial advisor.

For fees and conditions for these accounts refer to the Important Policies and Schedule of Fees