Hawaiian Financial FCU - Traditional IRA

Traditional IRA


Traditional IRAs are designed to provide you money for your future. Your tax deductible contribution grows tax free & withdrawals are taxed as ordinary income.

Eligibility - Married couples filing jointly with a combined income of $65,000 in 2005 and $70,000 in 2006 or single filers with income of $45,000 in 2005 and $50,000 in 2006.

Contributions - Married Couples filing jointly, may be able to contribute up to $8,000 in 2005 and $8,000 in 2006 per year. Single's can contribute $4,000 in 2005 and $4,000 in 2006 per year. A person that is 50 years old or older can do a catch-up contribution of $1,000 in 2006 and $500.00 in 2005.

Qualified Distributions - In accordance with the Taxpayer Relief Act of 1997, IRA withdrawals will be allowed penalty free for:

  • Up to $10,000 for first home purchases.
  • Qualified higher education costs.

Delinking Spouses - Spouses who are not active participants will now be eligible for IRA deductions. Each spouse will determine their deduction independently of each other.

 
IRA Certificate Rates
Traditional
Dividend Rate
APY*
Min. Initial Deposit
Min. Balance¤

06 - 11 Months
1.00%
1.01%
$500.00
$500.00
 
12 - 23 Months
1.30%
1.31%
$500.00
$500.00
 
24 - 35 Months
1.50%
1.51%
$500.00
$500.00

* Annual Percentage Yeild
¤ Minimum average monthly daily balance to avoid service fees.
All rates are subject to change without notice and are effective as of September 4, 2018.

IRA certificate rates are compounded and paid monthly.

If you need more information about this IRA, please email New Accounts at newaccounts@hificu.com or call 1-808-832-8700.