CDS & IRAS

The Future is Bright

Grow your savings securely with our Certificates of Deposit (CDs) and Individual Retirement Accounts (IRAs). CDs offer fixed rates and flexible terms, while IRAs provide tax advantages for retirement. Explore our options today and build a stronger financial future with confidence.

Certificates of Deposit (CDs)

First Federal Bank offers certificates of deposit – or CDs – with a variety of terms and competitive rates. Generally, the longer the term, the higher the yield.

  • Choice of term: 1 month through 7 years
  • Monthly interest compounding for terms of 1 year or longer
  • Monthly interest payout options on anniversary date
  • Automatically renewable
  • Fixed rate of return guaranteed for term of certificate
  • “Step Up Rate” feature available for select accounts*
  • Minimum opening deposit of:
    • $1,000 for terms less than 1 year
    • $500 for terms of 1 year or longer

*Not available for public funds

Empower Your Future

Individual Retirement Accounts (IRAs)

First Federal Bank of Louisiana offers a full range of Individual Retirement Accounts (IRAs) with competitive rates and flexible options to meet your needs. Whether you choose a fixed- or variable-rate IRA, we provide a variety of payout options and the opportunity to make additional contributions.

Must have earned income

Choice of terms with fixed or variable rates

Contributions allowed up to tax filing date, excluding extensions

No setup or annual service charges

Tax-free rollovers and transfers

Annual or periodic contributions allowed

Various payout options for owners and beneficiaries

Traditional IRA

A Traditional IRA is a retirement account that you fund with pre-tax income. Contributions may be tax-deductible (subject to certain Modified Adjusted Gross Income limitations), and interest earned is tax deferred. Enjoy penalty-free distribution to pay certain higher education expenses or for first-time home purchases (additional reasons apply).

  • Contributions may be tax deductible*
  • Interest is tax-deferred
  • Distributions may be made at age 59 1/2
  • Mandatory distribution requirements begin at age 73

*Consult your tax advisor or financial planner and IRS rules regarding withdrawal ages for RMDs and tax implications.

Roth IRA

A Roth IRA is a retirement account that you fund with post-tax income.

  • No age requirements
  • Qualified distributions are penalty- and tax-free if funds meet a 5-year holding period at age 59 1/2 or first-time home buyer.
  • Contributions subject to Modified Adjusted Gross Income limitations
  • No mandatory distribution requirements.

*Consult your tax advisor or financial planner and IRS rules regarding withdrawal ages for RMDs and tax implications.

Coverdell Education Savings Account (CESA)

A Coverdell Education Savings Account is an account designed to encourage savings to cover future education expenses such as tuition, books, and uniforms. Your CESA allows for tax-deferred growth and proceeds to be withdrawn tax-free for qualified education expenses at a qualified institution.

  • Used for qualified primary, secondary, and higher education expenses
  • Contributor must meet Modified Adjusted Gross Income limitations
  • Funds must be distributed by age 30
  • Unused funds may be rolled over to other qualifying family members
  • Designated beneficiary must be under 18 years of age

*Formerly referred to as an Education IRA. Consult your tax advisor or financial planner.