An IRA is a retirement savings plan that allows you to make tax deductible contributions by periodic deposit or a lump sum. An IRA Share Savings account earns a variable dividend and requires a minimum deposit of $25. IRA Share Certificates are available for a term of 12-48 months with a $1,000 minimum deposit. IRA deposits are separately insured to $250,000 by the NCUA. Focus Federal Credit Union also offers Traditional IRAs, ROTH IRAs and Coverdell Education Savings Plans.