Sometimes the future seems so distant. But the years pass quickly and before you know it, your child will go off to college, or you'll be preparing to retire. Be ready for these milestones by opening one or more high-yield accounts that come with a variety of tax advantages.
If your employer has a Simplified Employee Pension Plan, you'll want to open a Traditional IRA and take advantage of employer contributions to your retirement savings. Also, when you open a Traditional IRA at Michigan Schools and Government Credit Union, you'll be able to watch your account grow within Online Banking.
* Contact a tax advisor about how IRA contributions affect your individual tax status.
| Individual Retirement Account (IRA) | |
| APY* | Interest Rate |
| 0.30% | 0.30% |
*APY = Annual Percentage Yield. APY and rates rounded to the hundredth percentile. No Minimum Balance Required. | |
Interested in learning more? Check out this 5-minute lesson.
Many investors combine Traditional and Roth IRAs. Talk to MSGCU's Investment Planning advisors about the best way to structure your investments. Also, when you open a Roth IRA at Michigan Schools and Government Credit Union, you'll be able to watch your account grow within Online Banking.
Interested in learning more? Check out this 5-minute lesson.
Some families combine Coverdell Education Savings Accounts with other college savings plans. Make an appointment with one of our Investment Planning advisors to discuss all the ways to save for college. When you open a Coverdell account at Michigan Schools and Government Credit Union, you'll be able to watch your account grow within Online Banking.
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