View Message

Alert
We are currently experiencing intermittent issues with Zelle outbound payment services within Digital Banking. Our team is actively working to resolve the issue as quickly as possible.

We appreciate your patience and understanding as we work to restore full service and enhance your digital banking experience.

Thank you for being a valued member.

FLEXIBLE RATE IRAs

Make Your Retirement Money Work for You

Get the flexibility of a Variable Rate IRA and the potential to rack up dividends.
Felixible-IRAs_524x524

Your Future Is Meant to Be Enjoyed.

Set your future self up for a life of comfort with flexible retirement investment accounts that will make your money work for you.

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.

0763b87e37c656b71026d0704c5c7117
get-rewarded-for-growing-nest-money_dots

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.

Download the Mobile Banking App
MCU-homepage-mobile-mockup-V3-new

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 financing a home, to saving for retirement.

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
bottom

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.

taxscams

Avoid Tax Scams

Protect Your Finances This Season Tax season is not just a busy time for filers—it’s also prime time for scammers looking to steal personal and financial ...

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 ...
FAQs

Get Answers to Our Most Frequently Asked Questions.

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.

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.

At what age can I withdraw money from my Flexible IRA?

You can withdraw money from your Flexible IRA, but if you do so before reaching the age of 59 and a half, you will incur a penalty.

Can I claim my IRA contributions on my taxes?

Yes, you may be able to claim a deduction on your individual federal income tax return for the amount you contributed to your IRA.

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 Now
Learn More About Membership
final-cta-green-visual-asset_left
final-cta-green-visual-asset_right
final-cta-visual-asset-paint-stroke
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.

** The IRA 18-Month Share Certificate Account is a variable rate account and the rate may change after the account is opened. All other Share Certificate Accounts are fixed-rate accounts. A penalty may be imposed for early withdrawals.

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.