Individual Retirement Accounts

Cincinnati Federal Savings & Loan offers traditional Individual Retirement Accounts (IRA’s).  Traditional IRA’s are available from a 3 Month term to a 120 Month term.

You can open a new IRA, rollover or transfer an existing IRA to Cincinnati Federal Savings & Loan.   All of our IRA’s are passbook accounts allowing you to see the activity posted in you book every time you perform a transaction.  With an IRA account, your funds are invested safely in a FDIC secured time deposit account.

• Any term Certificate of Deposit (CD) may be set up as an IRA.  The rate paid on each of the CD terms will be the same as the IRA rate and term.
• A minimum of $500 is required to open an IRA.  No additions can be made to the CD account during the term, however multiple CD’s can be opened.
• Early Withdrawal Penalties do not apply to accountholders age 59 ½ or older

• Deposits can be made to this IRA Certificate of Deposit at any time
• A minimum of $50 to open and maintain the account
• Interest on this IRA is compounded and credited quarterly.  Rates may change without notice on a quarterly basis
• All Variable-Rate IRAs are set up with 18 month terms
• Early Withdrawal Penalties do not apply to accountholders age 59 ½ or older