Setting Up Your IRA, ESA, or HSA

Opening tax-advantaged accounts such as an Individual Retirement Account (IRA), Education Savings Account (ESA), and Health Savings Account (HSA) can be a smart way to build financial security while reducing tax burdens. Designed for retirement, education, and healthcare expenses, these accounts offer unique tax benefits that allow savings to grow more efficiently. Here’s how you can easily set up these accounts through Interior Federal’s IRA Center.

Get Started with the IRA Center

1. Visit interiorfcu.org.
2. Click on the Menu in the top left.
3. Select Accounts from the dropdown.
4. Navigate to IRAs and click on the Open IRA button. You’ll be directed to our IRA Center, where you can begin setting up your account.

Setting Up Your IRA, ESA, or HSA Account

Once you’re in the IRA Center, follow these steps to get started:

1. Choose Your Account Type: Select the type of account you wish to open (Traditional IRA, Roth IRA, ESA, or HSA).
2. Click Continue and complete the required fields with your personal information.
3. Add Beneficiary Information: Enter up to 4 primary and 4 contingent beneficiaries.
4. Select Contribution Type: Choose whether you’d like to deposit funds now or after submitting your application. If you select Yes, contribute to my account, specify the type of contribution:

5. Choose Contribution Year and Funding Source: Select the applicable year for your contributions and indicate your funding source.

6. To complete your application, you may sign electronically or print and save a signed copy, along with the Truth in Savings Disclosure

Manage Your Account in the IRA Center

Once your account is set up, managing your IRA, ESA, or HSA is simple and can be done from the comfort of your home. The IRA Center allows you to make contributions, withdraw funds, and update beneficiaries efficiently and securely. You also have access to a range of retirement planning tools and resources to support every step of your journey toward financial security. Start today and let Interior Federal help you build a brighter future with confidence.

Related Content: 5 Common Questions About Your Interior Federal Account After Retirement