Individual Retirement Accounts (IRAs)

For as little as $500, you are guaranteed a fixed rate for the term of the certificate. Dividends are paid and compounded monthly.

Check out our great rates!. Rates are subject to change.

Start an IRA Now for Maximum Retirement Comfort. Complete this simple application and fax to 305-324-9881 attention IRA department.

Choose from our traditional (deductible) IRAs, Roth IRAs and Coverdell Education IRAs- all of which earn tax-deferred interest. MFFCU offers the same excellent rates and terms on Roth and Traditional IRAs as we do for our share certificates for 1 year and over.

Roth IRA

• Make annual contributions up to $3,000 per person for individuals with earned income and modified adjusted gross incomes under $95,000, or $150,000 for couples.
• Tax-free withdrawals (distributions) are allowed after five years if:
  - You are older than 59-1/2;
  - You become permanently disabled
  - Penalty free before 5 years for first time home purchase (Taxes due on earnings only)

Traditional IRA CDs and Share Accounts

• Your annual contribution may reduce your taxable income.*
• Same great rates and maturity options as our regular CDs for 1 year and over.
• Penalty-free distributions are now allowed for qualified education expenses or a first-time home purchase. Withdrawals must begin when you reach the age of 70-1/2

*Consult your tax adviser for specific IRS guidelines.

Coverdell Educational IRAs

• Education IRAs are specifically designed to help you establish college funds for your children. Save up to $2000 per year, per child, and the earnings grow tax-free.

*Consult your tax adviser for specific IRS guidelines. Members should be aware that tax penalties might apply to certain withdrawals from IRA accounts.