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Our Graniteville Branch, located at 1756 Forest Avenue, in Staten Island is currently closed due to a power outage affecting the entire building. We will reopen as soon as power is restored.

We apologize for the inconvenience. In the meantime, please visit another branch or use Digital Banking and the NYMCU mobile app to manage your accounts.

Check back here for updates on reopening.

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.

The Smart Borrower’s Guide

Securing a personal loan in New York City can be a game-changer for tackling unexpected expenses, consolidating debt, or funding major purchases. But how do you ensure you get the best rate? ...

Personal Loans vs. Credit Cards

When it comes to borrowing money, two of the most common options are personal loans and credit cards. Each has its advantages and drawbacks, and the right choice depends on your financial needs ...

First-Time Borrower?

Taking out a personal loan for the first time can feel overwhelming, but it doesn’t have to be. Whether you're looking to consolidate debt, cover unexpected expenses, or fund a major life ...
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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