Good If You...

  • Want to Accumulate Savings for Retirement Using Safe and FDIC-Insured Financial Products
  • Seek to Take Advantage of One of the Few Deductions Allowable on Federal Income Tax Returns
  • Want to Enjoy the Benefits of Compounded Interest to Grow Your Retirement Nest Egg
  • Don’t Want to Risk Funds in the Stock Market


  • $500 Minimum Opening Balance
  • Multiple Types of Retirement Accounts Permitted
  • Total Annual Contributions Limited1
  • Interest Earnings either Tax-Deferred or Tax-Free1

Types of IRAs


  • Contributions May Be Fully or Partially Tax Deductible1
  • Accumulate Compounded Interest Earnings
  • Contribute Pre-Tax or After-Tax2 Income to Your Account
  • No Income Tax Liability until You Withdraw Funds Upon Retirement1
  • Deposits Can Be Made Up to Age 70 ½
  • No Annual Income Restrictions


  • Pay Tax Now So You Don’t Pay Later1
  • Contributions Are Not Tax-Deductible1
  • Interest Earnings Compound Just As a Traditional IRA
  • No Age Limit for Making Contributions
  • Annual Income Restrictions May Apply
  • Contribute Only After-Tax Income

How Is My IRA Structured?

When you open an IRA with us, it is a fully FDIC-insured Certificate of Deposit account which offers limited or no access during a term you select (typically 1 to 5 years, but term length is negotiable) with a fixed interest rate paid on your full balance. You may wish to coordinate the date of your annual IRA contribution with your CD's maturity date so you can combine new contributions with existing retirement balances. You can also setup a CD Ladder for your IRA CDs, which will allow you to make more frequent contributions at the maturity dates of each CD in your ladder.

Other IRA Options

Individual Retirement Accounts can also be structured as a brokerage account invested in stocks, bonds or other types of investments which are not guaranteed and may lose value. If you are interested in this type of retirement vehicle, please contact a representative from the First Citizens Investment & Trust Department.

We also offer Health Savings Accounts, which help you build tax-free savings for your high deductible health plans.

Retirement Planning

Retirement Planning

From First Citizens Investment & Trust Department


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1 Consult a qualified tax professional for details.

2 In order to contribute pre-tax, typically your employer must set up a payroll deduction.