Your future is full of possibilities. Let MECU信用合作社 help you get there with a great savings account.

There's no better time to plan for retirement and secure your future in 巴尔的摩, Maryland or elsewhere than with the help of a MECU Individual Retirement Account (IRA) or 教育储蓄 Account (ESA).
We offer both Traditional and 罗斯ira
No hidden fees and many potential tax breaks*

Decisions you make today can help secure your financial future

An Individual Retirement Account (IRA) is one of the easiest ways to save for retirement.

At MECU, we're here to help every step of the way.
概述 传统的爱尔兰共和军 罗斯IRA
Maximum Contribution Amount per Year Contribute up to $6,500 a year in 2022 ($7,500 max if over age of 50) Contribute up to $6,000 a year in 2022 ($7,000 max if over age of 50)
税收优惠 Annual contributions may be tax-deductible Investment interest and dividends grow tax-free; withdraws are not taxed*
Required Minimum Distributions (RMDs) Must take annual distributions beginning at age 73 No mandatory distribution age
Early Withdraw Penalties Early withdraws (before age 59 ½) incur 10% tax penalty in many instances No early withdraw penalties in many instances for higher education or purchase of first home*

教育储蓄 Account

An 教育储蓄 Account is an effective, tax-free way to save for college. 

  • Contribute up to $2,000 per, year per child
  • Use money for tuition, fees, books, supplies,, in some cases room and board
  • Earnings and withdrawals are often tax-free*
  • Earn interest on deposits

Banking with MECU信用合作社 in Maryland means belonging to a local financial institution that invests in the 巴尔的摩 community and offers competitive rates on IRA and other 储蓄账户.

*Consult a tax advisor for details.
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