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Term Share/Certificates and IRAs

For when just a savings account won’t do, Monroe County Community Credit Union has other rewarding ways for you to invest your money.

We offer the following options:


Share Certificate of Deposit – A share Certificate of Deposit (CD) is a simple way to put some money aside. How long you have your certificate determines how much interest you’ll make. Specific terms and rates apply to each certificate of deposit. Early withdrawals carry a penalty. Interest is accrued monthly and deposited on a monthly basis.

Features:

  • Interest bearing-depending on terms and balances as required
  • Minimum balances apply to specific terms and rates
  • Money cannot be removed from the account until maturity
  • Funds are only accessible through in-person withdrawals
  • Account information available through Online Banking
  • Insured by the NCUA (based on NCUA guidelines)

Benefits:

  • Reliable savings vehicle that can be used to accrue higher rates of interest
  • Money is safely stored away for a set period of time

Individual Retirement Account – Investing with an Individual Retirement Account, or IRA, is not only a great way to save for your retirement, but you’ll get some great tax advantages as well*. You can choose from Traditional, Roth, or Coverdell accounts. Penalties may apply for withdrawals by members under the age of 59 1/2. This savings account keeps money completely liquid, which allows you to invest your money as you see fit.

Features:

  • Interest bearing account
  • Minimum balance of $100.00 required to establish account
  • Penalties may apply for withdrawals (Contact us for details)
  • Account information available through Online Banking
  • Insured by the NCUA (based on NCUA guidelines)

Benefits:

  • Allows you to control your retirement accounts
  • Funds are liquid to allow you to invest in other retirement savings vehicles

Individual Retirement Account Certificate of Deposit - Interest-bearing time deposit account. Specific terms and rates apply to each certificate of deposit with minimum deposit requirements needed to qualify for rates, and interest is accrued quarterly and deposited on a quarterly basis. Early withdrawals carry a penalty. Investments may carry some loss of principle for this reason.

Features:

  • Interest-bearing depending on terms and balances as required
  • Minimum balances apply to specific terms and rates
  • Money cannot be removed from the account until maturity without penalty of interest accrued
  • Premature withdrawals subject to penalties as assigned by the Federal Government (Contact us for details)
  • Funds are only accessible through in-person withdrawals
  • Account information available through Online Banking
  • Insured by the NCUA (based on NCUA guidelines)

Benefits:

  • Allows you to accrue higher rates of interest for your retirement savings
  • Enables you to have more control over your retirement accounts

Click here to take a look at our great rates.

Stop by and see a Member Service Representative for more information, email us or call us at (734) 242-3222 or (800) 541-2222.

*Always talk to your tax advisor to help you determine which IRA is right for you.

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Equal Housing LenderNational Credit Union Administration
NCUA - Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government agency. Equal Housing Lender - We do business in accordance with the Fair Housing Law and Equal Opportunity Credit Act. Unauthorized access or use is not permitted and may constitute a crime punishable by law.