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⚠️ Service Alert: Delayed Opening – Co-op City Branch

Please note: Our Co-op City Branch, located at 2156 Bartow Avenue in the Bronx will be open today at 1pm.

We apologize for the inconvenience and appreciate your patience.

Thank you for being a valued MCU member.

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    ABOUT

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    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.

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    Enjoy Tax-Deductible Deposits.

    With a traditional fixed rate IRA, your contributions (deposits) will be subtracted from your total gross income—directly lowering the taxes you owe (income limits apply). And if you opt for a fixed rate Roth IRA, you’ll enjoy tax free withdrawals down the road.

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    No Surprises, Just
    Savings.

    Enjoy the security of a fixed rate that yields higher interest rates—and ultimately higher returns—on every dollar you set aside for your future.

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    Switching Institutions? No Problem.

    We make it simple and easy for you to transfer your existing IRA from another institution. Just speak with one of our member service representatives to get the ball rolling, and start building a secure financial future with MCU.

    Schedule an Appointment

    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.

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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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    Personal Loans vs. Credit Cards

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    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.

    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.
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