Now Is The Time To Start
Saving For Retirement

Whether you’re twenty-five or fifty-two, saving for retirement should be an important part of your financial life. A high dividend earning IRA would be a great place to put your tax refund to work. MCU offers two IRA options for members with retirement on their minds – Traditional IRA and Roth IRA.

Traditional IRA Roth IRA
Contributions are tax deductible* Contributions are not tax deductible
Withdrawals are mandatory by 70 ½ No mandatory distribution age
Funds withdrawn (including principal contributions) before 59½ are generally subject to 10% penalty Normal contributions can be withdrawn at anytime without penalty (subject to some minimal conditions)
Taxes are paid on withdrawals from the IRA All earnings and principal are 100% tax free if rules and regulations are followed
If you’re over 50 you can contribute an additional $1,000 If you’re over 50 you can contribute an additional $1,000

Contribution

2007: $4,000 ($8,000 for married couples), Over 50 - $5,000

2008 & beyond: $5,000 ($10,000 for married couples)

Over 50: $6,000 (to be adjusted annually for inflation after 2009)

Contribution

2007: $4,000 ($8,000 for married couples), Over 50 - $5,000

2008 & beyond: $5,000 ($10,000 for married couples)

Over 50: $6,000 (to be adjusted annually for inflation after 2009)

Just stop by one of our branches or call 1-888-GROW-MCU to open your account today.

Not a member? Call 1-866-JOIN-MCU.
You can join MCU and open your account in the same phone call.

*Consult your tax advisor