Individual Retirement Accounts
We offer IRA Savings Accounts and IRA Certificates (including Traditional, Roth and Education) that may allow you to take advantage of tax deductions, plus defer or eliminate taxes on dividend earnings. Record keeping is maintained at NO Cost and IRA accounts are insured by NCUA separately from your other savings accounts up to a total of $250,000. Again there are no fees to open or maintain your MAFCU IRA account.
Roth- Interest earned is tax-free if certain restrictions apply.
Traditional- Taxes on earnings are deferred until withdrawals are made. You may also qualify for deposits that reduce your taxable income.
If you currently have an IRA with another financial institution, you may wish to transfer it to the Manville Area FCU where you may receive higher interest, our convenient services and Federal Insurance.
You may also open a Rollover IRA if you are retiring from your job and you are to receive a lump sum distribution from a retirement plan. Otherwise all, or part, of the distribution may be taxed at the time it is received.
Contact us - we'll be happy to assist you with your IRA needs. Take advantage of individual retirement accounts. Make sure that when you retire, you'll have more to spend than just time!
