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Our Midwood branch located at 1560 Flatbush Avenue in Brooklyn will reopen this Friday, May 31st!

In the meantime, you can securely access your accounts by logging into Digital Banking or visiting any of our other local branches.

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Fixed Rate IRAs

Open a Fixed Rate IRA Today.

Looking for a great retirement savings option with a return you can count on? MCU offers a fixed-rate account that earns interest at a fixed rate during the full term. Choose between 6, 12, 24, or 36 months—and start saving.


Set Yourself Up for a Stress-Free Retirement.

Your retirement should be a time of relaxation, not financial strain. Start saving now, and set yourself up for future financial stability and success.

Why Do I Need an IRA?

An IRA, or Individual Retirement Account, is a retirement savings account that features tax-saving advantages and allows you to invest in your future financial health. The sooner you open a retirement account, the more time your money has to grow.


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.

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Make the Most of Your MCU Membership.

Membership in our community is about more than just banking. As an MCU member, you can access valuable information and resources to help you plan and reach your financial goals.

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What to Consider Financially As A First-Time Homebuyer

So, you’re ready to buy your first home. Congratulations! For many people, taking this step is one of the biggest financial moves they will make in their entire lives. Because of ...

Mortgages 101: Getting Started on The Path to Homeownership

When you embark on the search for a new home, you may think you know the steps to take: Read the listings, visit some open houses, sign on with a Realtor, make an offer. In fact, ...

Get Answers to Our 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.

Will my rate ever change the duration of my term?

If you open a fixed IRA, your rate will be fixed in place for the duration of the term and is not subject to ever change. A flexible-rate IRA has rates that change with the fluctuating market.

How do I apply to open an IRA?

To open an IRA through MCU, call us at 1-844-MCU-NYNY (1-844-628-6969) or visit your local branch. NYMCU Digital Banking does not allow members to open an IRA online at this time.

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.

Can I take my money out of the account at any time?

You may deduct from your account at any time, but if you are under the age of 59 and a half you will be subject to penalty.

Ready to Start Saving for Retirement?

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

Join MCU Today
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* APY = Annual Percentage Yield. Dividend Rates and Annual Percentage Yields are accurate as of the last dividend declaration date. Rates and Terms are subject to change without notice. For more details, see our Rates page.

Multiple accounts are only allowed for Share Certificates. All other deposit accounts are limited to one of each type.

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