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The ATM Center at 2518 Frederick Douglass Blvd. is currently unavailable. Please use the nearest ATMs at 280 St. Nicholas Ave. We apologize for any inconvenience this may cause. 

FIXED RATE IRAs

A Return You Can Count On

MCU offers IRA accounts that earn interest at a fixed rate during the full term. Choose between 6, 12, 24, or 36 months and start saving.
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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.

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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
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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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You did it. You saved up that crucial $5,000 emergency fund — no small feat when you're paying $3,000 for a "charming" one-bedroom in ...

Share Certificate vs. Money Market vs. High-Yield Savings

Compare the earning potential of three popular savings options to find the best fit for your financial goals When you're ready ...

The Hidden Costs of Homeownership Beyond Your Mortgage

A New York Reality Check So you've finally secured that mortgage and got the keys to your dream home in the Big Apple. ...
FAQs

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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DISCLOSURES:

* 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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