Individual Retirement Accounts (IRAs)
An Individual Retirement Account (IRA) is a great way to save money and supplement your retirement income! IRAs offer tax advantages that can benefit you both now and in the future. IRAs can be opened in the form of a Savings or Certificate Account.
We offer three types of IRAs:
- Traditional
- Roth
- Coverdell ESA
Each retirement account offers different tax options and contribution limits.
For more information about opening your own MCECU Individual Retirement Account, please call Member Solutions at 901-321-1200 or toll-free 877-825-3180.
IRA Investment Accounts
Did you know that contributing towards an Individual Retirement Account has the potential to decrease your taxable income for that year? In addition, earnings in an IRA generally grow tax-deferred or tax-free, depending on which plan you choose.
It is never too early or too late to save for retirement.
Traditional IRA
Social Security may not be enough! Check with a credit union professional to help start your Retirement planning now.
- Tax deductibility*
- Tax deferred deposits*
- Tax deferred earnings*
- Automatic distribution available
Roth IRA
Discover the benefits of a Roth IRA:
- After tax dollars deposited*
- No account maintenance fee
- No mandatory distributions
Coverdell Education Savings Account (ESA)
Saving for college? Let us help you make the most of every dollar. It's never too early to start.
For additional information, help on rolling over an existing ESA, or to set up a new account, please contact us.
*The IRS sets limits on annual contribution levels. Check with your personal tax advisor for contribution, deductibility and withdrawal guidelines, and to see if you qualify.
Have peace of mind knowing that your IRA accounts are federally insured by NCUA up to $250,000 separate from all of your other accounts.