View Message

System Maintenance:
Due to system maintenance, NYMCU Digital Banking, including the Mobile application will be unavailable on Monday, September 18th, 2023 from 12:59am - 5:00am.


Maximize Your Retirement Savings—Open an IRA Today.

It’s never too early to start saving for your retirement. Set up an Individual Retirement Account (IRA) and enjoy tax-deductible earnings with a Traditional Account or tax-free earnings in the future with a Roth IRA (income limits apply).

Join MCU Today
top-shape green-shape drak-blue red-shape yellow-shape

Choose the Individual Retirement Rate Option That Fits Your Needs.

Whether you choose to invest in a traditional or Roth IRA, members can select from two rate-earning options that suit their unique banking and saving needs. Whichever you decide, MCU is here to support your financial future for years to come.

Fixed Rate IRA

Option 1: Fixed-Rate IRAs

Open your fixed-rate IRA with a minimum $500 deposit, and choose from term options of 6, 12, 24, or 36 months. Your dividend rate will remain the same for the remainder of the full term account.

View Product
Flexible Rate IRA

Option 2: Flexible IRAs

Open your Flexible IRA with a minimum  $100 deposit and an 18-month term. The dividend rate may vary month to month based on market conditions, and additional deposits may be used to increase your full-year contributions.

View Product

All Your Banking, Accessible Anywhere

Saving for retirement can be tough, but MCU makes it easier by providing banking access from anywhere and any device. The NYMCU online and mobile banking apps make it easy to view your retirement account balances, manage your checking or savings accounts, access financial tools, and more.

NYMCU Digital Banking

No Matter Where You Are in Life, We’re Right There with You.

At MCU, we believe that a credit union should be a lifelong source of financial education and support—from planning for college to saving for retirement and everything in between.

That’s why we have specialized recommendations for products and services designed to help you meet your goals (both short-term and down the road), based on your changing needs and priorities.

Show Me Products For My Life Right Now
top top

Get Answers to Our Most Frequently Asked Questions.

What’s the difference between a variable rate and a fixed rate?

A fixed-rate has the same interest for the duration of the loan, and variable rates have interest that changes with the fluctuating market.

Do I get penalized for taking money out of my IRA?

Yes, if withdrawn before the age of 59 and a half, there will be a gross income plus ten percent tax penalty.

Am I able to have two different IRA’s at one time?

Absolutely! There is no limit to the number of IRAs that you open. However, you cannot contribute more than the limitations on each account for the year.

How do I apply to open an IRA?

To open an IRA through MCU, call us at (800) 323-6713 or visit your local branch. NYMCU Digital Banking does not allow members to open an IRA online at this time.

Is my IRA tax-deductible?

Your Traditional IRA may be tax-deductible but limited due to factors like spousal retirement plans and exceeding annual income levels.

At what point is the money in my account taxed?

It depends on what kind of IRA you choose to open. The money in a Traditional IRA is taxed upon withdrawal, while contributions to a Roth IRA are taxed upfront, allowing for tax-free withdrawals in retirement.

Ready to Start Saving for Retirement?

Join now to get access to the competitive rates, reliable savings products, and educational resources you need to secure an exceptional financial future.

Join MCU Today
Learn More About Membership
You are now leaving the Municipal Credit Union website and entering a website hosted by another party. A link to this site is being made available for convenience and informational purposes only. Any products or services accessed through this link are not being provided by Municipal Credit Union and are solely the responsibility of the vendor or merchant hosting this other website. Please be advised that the vendor or merchant hosting this other website may have a privacy and information security policy that is different than that of Municipal Credit Union. Municipal Credit Union disclaims any responsibility for the content of the third-party website you are about to access.