CDs & IRAs
Individual Retirement Accounts
Whether you're saving for retirement or education, Upper Michigan Community Credit Union has a program that can help you attain your goals. Federally insured by the NCUA up to at least $250,000, an Upper Michigan Community Credit Union Individual Retirement Account (IRA) is an excellent way to grow your funds while deferring taxes.
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.*
Qualified distributions are tax-free, flexible withdrawal options are available, and the amount you can contribute is increasing.*
Can be opened for any child under the age of 18 to fund their educational expenses, such as tuition, fees, books, supplies, or equipment. Earnings grow tax-free IF distributions are used for qualified education expenses.
*The Internal Revenue Code may impose a penalty on withdrawals of taxable amounts before you reach age 59½. Consult with your tax advisor for additional guidance on which type of IRA may best fit your needs.
Certificate of Deposit (CDs)
A CD is a great way to stash away some money while earning more interest than a traditional savings account.
All of our CD accounts feature:
- We offer terms anywhere from 3 months up to 4 years.
- Open with as little as $500 or $1,000 depending on term.
- Interest rates vary depending on the term.
Check out our current interest rates here or stop in and talk to a representative any time!Go to main navigation