Individual Retirement
Accounts (IRAs)

Your ambitions for retirement deserve to become a reality. And here is where it starts—with a variety of plans that shape your investments for success, as well as bankers who care about making your dreams happen.

Featured Products


5.00% APY
Balances of $0.01 - $15,000

Build up your retirement fund with our tiered savings solution. Get access to a market leading rate of 5.00% APY on balances between $0.01 and $15,000.1

  • Minimum opening deposit of $5

  • Interest earned on all balances


4.00% APY

Maximize your retirement savings with our 12 Month IRA CD, offering a highly competitive APY of 4.00%2.

  • Interest rate locked in for the entire term

  • Minimum opening deposit of $1,000

  • Penalty may apply for early withdrawal

More Information


What will you do with your employer-sponsored retirement funds when you retire or change jobs? Take control of your finances and your future with a Direct Rollover from your employer’s plan to a Blue Foundry Bank Rollover IRA Account.

Only a Direct Rollover lets you move 100% of your savings. If you take cash or the rollover yourself, you may pay 20% withholding. Our Rollover IRA Account invests your funds in an insured certificate of deposit and guarantees convenient access:

  • Your IRA is insured separately from your other accounts up to $250,000

  • Interest earnings are tax-free until withdrawn and there are no IRS penalties for distributions made after age 59 ½


Traditional IRAs give you tax deferred interest on your retirement savings:

  • You may be able to deduct your annual IRA contribution on your federal tax return

  • Interest earnings in your Traditional IRA are tax-free until withdrawn from the account

  • Contributions can be made after age 70 ½ when you have earned income from employment

  • Make contributions for a tax year or up to your tax filing deadline for that tax year

  • Minimum required distributions must start at age 73

  • No IRS penalties for distributions made after age 59 ½


Roth IRAs allow people to set aside after-tax income up to a specified amount each year with earnings on the account and withdrawals after age 59 ½ are tax-free.

  • Roth IRA contributions are not tax-deductible up front, but when funds are distributed in a “qualified distribution,” they incur no federal tax

  • No age limit on making contributions as long as you have earned income

  • Distributions are tax-free and IRS penalty-free for qualifying first-time homebuyers and those over age 59 ½

  • There are no required minimum distributions at age 73 - your money can continue to grow until you need it


The SEP-IRA gives small businesses as well as sole proprietors a retirement plan for their employees that’s easy to establish and offers real flexibility.

  • Employers can contribute to employees’ existing IRAs

  • Contributions are tax-deductible by an employer and the earnings are tax deferred until withdrawn

  • An employer does not have to contribute every year

  • Avoid the administrative costs and most reporting requirements of qualified retirement plans


1 APY (Annual Percentage Yield) of 5.00% is based on an interest rate of 4.88% for balances of $0.01 - $15,000. Balances of $15,000.01 and up earn an APY of 0.50% based on an interest rate of 0.50%. Rate is effective as of 3/03/23. Minimum opening deposit of $5.

2 APY (Annual Percentage Yield) of 4.00% is based on an interest rate of 3.92%. Rate is effective as of 3/03/23. Minimum deposit $1,000. Penalty for early withdrawal.

Please visit our Careers Page to learn about available opportunities.

Available Careers