Thinking about retirement is smart. Saving is even smarter. MeCU IRAs make it easy to get started.
- Competitive Dividends
- Tax Advantages*
- No Setup or Maintenance Fees
- Competitive dividends above standard savings rates
- No setup fees
- No monthly or annual maintenance fees
- Contributions are tax deductible on state and federal income tax*
- Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
- Annual contribution limits apply (see current contribution limits; $6,000 as of 2019)
- Withdrawals can begin at age 59½
- Early withdrawals subject to penalty**
- Mandatory withdrawals at age 70½
- Additional $1,000 "catch-up" contribution allowed for ages 50+
- Funds can be used to purchase share certificates within IRA
- No minimum deposit to open IRA shares; $1,000 minimum deposit to open IRA share certificates
*Subject to some minimal conditions. Consult a tax advisor.
**Certain exceptions apply, such as healthcare, purchasing first home, etc.