Individual Retirement Accounts

Whether you’re saving for retirement or education, we have a program that can help you achieve your goals. Protected by the NCUA up to $250,000, a Michigan Community Credit Union Individual Retirement Account (IRA) is an excellent way to grow your funds while deferring taxes.* Michigan Community Credit Union offers several options from which you can choose to best fit your needs:

Traditional IRA

Offers tax-deferred earnings and the possibility for tax-deductible contributions. These tax advantages make the Traditional IRA a powerful tool in creating a balanced, long-term savings plan.

Roth IRA

Qualified distributions are tax-free, flexible withdrawal options are available and the amount you can contribute is increasing.

For your convenience, all Michigan Community Credit Union Term Share Accounts from 12 – 60 months (excluding 30 months) are also available as Individual Retirement Accounts (IRAs). With an IRA Term Share Account from Michigan Community Credit Union, you get the tax advantages of an IRA Account and the higher returns of a Term Share Account. An IRA Term Share is the ideal way to enjoy the benefits of tax-deferred earnings for retirement. The minimum balance requirement is $1000.00.

*The Internal Revenue Code may impose a penalty on withdrawals of taxable amounts before you reach age 59 ½. Consult with your tax advisor for additional guidance on which type of IRA may best fit your needs.