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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.

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.*

Educational IRA

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!

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