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I’m Preparing for Retirement
Set Yourself Up for a Comfortable Retirement—Start Planning Now.
You're preparing for the upcoming change in both lifestyle and finances with careful, future-focused planning. Discover helpful tools and handpicked financial resources to help you carefully plan for your retirement years.
Some Key Terms You’ll Need to Know
Review the most important terms to know as you explore the best products and services to support you through the retirement planning process.
Social Security
A government-run program that provides financial assistance to eligible individuals, including retired workers, disabled workers, and their families.
Vesting
The entitlement to a present or future asset or benefit, usually referring to an employer-provided benefit such as a retirement account.
eStatement
An electronic version of a bank or credit union statement, which is a summary of an individual's account activity and current balance.
Home Equity
The current market value of a homeowner's property minus any outstanding mortgages or liens on the property.
Individual Retirement Account (IRA)
A type of savings account designed to help individuals save for retirement.
Pension
A regular payment made from one's employer after retirement, based on factors such as length of employment and earnings.
What You Should Know about IRAs
Save for Retirement on Your Own Terms with an IRA.
Did you know that there’s no upper age limit to how long you can continue contributing to an IRA? Choose between pre-tax contributions to a Traditional IRA, or tax-free withdrawals with a Roth IRA—both available at either a fixed or variable rate through MCU. It’s never too late to invest in your financial future.
Get the Security of a Fixed Rate IRA.
If you’re looking for a retirement savings option with a return you can count on, a fixed-rate account that earns interest at the same rate during the full term may be the right choice for you. Choose between 6, 12, 24, or 36 months—let’s start saving.
Enjoy the Flexibility of a Variable Rate IRA.
If you’re looking for a great retirement saving option with the potential to rack up some serious dividends, a variable rate IRA may be the right type of account for you. Get access to member-exclusive rates that enable you to earn up to 3.30% APY* over 18 months.
Get Expert Support Along the Way.
What kind of IRA is best for me? What are the tax implications of each type? Questions like these are common for members like you to have, and our team is ready to answer them all. Get informed about your finances—contact MCU today.
Tools for Smart Retirement Planning
Set Yourself Up for Financial Success.
Don’t leave anything up to chance as you set plans in motion for a financially secure retirement. By taking advantage of tools and products designed to make the most of your finances, you can set yourself up to take control and enjoy your retirement on your terms.
Save Big on Insurance Coverage.
Get the insurance coverage you need without stretching your finances too thin in the process. MCU members enjoy deep discounts on insurance products—including home and auto coverage—through our partners at TruStage®.
Get Ahead of Potential Fraud Attempts.
Stay one step ahead of potential financial scams and protect your legacy from outside threats. Learn what you can do to keep your assets safe, with security tips from the experts at MCU.
Stay on Top of Your Accounts with eStatements.
No need to wait for a mail delivery to take a deeper look at your transactions and account history. Enroll in paperless eStatements (found in your NYMCU Digital Banking dashboard) and access your account statements anytime you like.
BALANCE Financial Fitness Program
Stay on Track with BALANCE Financial Fitness.
Discover financial guidance and expert advice for every life path with BALANCE. Access webinars, tools, articles, and counseling that help you reach financial wellness no matter where you are in life—free to MCU members like you.
NYMCU Digital Banking
Handle Your Banking on Your Terms—No Branch Visits Required.
Manage all of your everyday finances right from the convenience of your home, your car, or even in the middle of your weekly grocery store run. Download the app on your mobile device, or access online banking from your browser—it’s never been easier to handle all of your banking needs from wherever you are.
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Home Equity Loan
Need Money for Retirement? Tap Into Your Home’s Equity.
Did you know that your current home’s value can be used to help you meet other financial needs or goals? Borrow against the payments you’ve already made toward your home, and receive a lump sum that you can reinvest in a high-yield savings account.
Get Long Term Financial Coverage You Can Count On.
Let’s work together to create a plan for your comfortable retirement. MCU Members enjoy expert guidance from our team and a wide array of flexible products to fit your unique needs. We’re here to help you get the financial coverage you need for a secure future.
