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Saving for retirement may feel intimidating or seem like something that has to wait. The reality is that everyone needs to have a plan for retirement, and everyone can have a plan for retirement. At Community First, we are here to help.

Visit our IRA Resource Center or call 904.354.8537 if you have questions about our IRAs.

Individual Retirement Accounts (IRAs)

Individual Retirement Accounts, or IRAs, are long-term savings accounts that offer unique benefits. There are a variety of IRAs available for Community First members.  Contact us to open an IRA today.

457 Deferred Compensation

We offer a tax-deffered savings account program, under section 457 of the IRS code. This program is available to employers paid by state or local governments. Groups currently approved to contribute are the Baker, Clay, and Duval County Public Schools and WJCT Channel 7. In this plan, a portion of your wages are deposited into a special Credit Union account through a salary reduction agreement and are not subject to Federal Income Tax while they remain deposited. All interest earned on deferred wages is tax-deferred.

  • Contributions are tax-deferred until withdrawn
  • Earnings grow tax-deferred until withdrawn
  • Social security benefits are unaffected – deferred salary is included in the wage base for benefit purposes.

*An initial deposit of $5, to be held in your Community First Savings (Share) Account, is required for membership. Membership is open to anyone who lives, works or attends school in Baker, Clay, Duval, Flagler, Nassau, Putnam or St. Johns counties.