IRAs & Education Savings

Your future is full of possibilities.

Let MECU Credit Union help you with a great savings account

There's no better time to plan for retirement and secure your future in Baltimore, Maryland or elsewhere than with the help of a MECU Individual Retirement Account (IRA) or Education Savings Account (ESA).

We offer both Traditional and Roth IRAs

No hidden fees and many potential tax breaks*

Use Online and Mobile Banking to track balances

Decisions you make today can help secure your financial future.

Traditional & Roth IRAs

An Individual Retirement Account (IRA) is one of the easiest ways to save for retirement.

  • Enjoy steady earnings and a variety of tax breaks*
  • No hidden fees 
  • Track your savings growth with Online and Mobile Banking
Education Savings Account

An Education Savings Account is an effective way to save for college. 

  • Contribute up to $2,000 per year per child
  • Earn interest on deposits
  • Use money for tuition, fees, books, supplies, and, in some cases, room and board

Choose the accounts you’d like to compare

Traditional IRA

Roth IRA

Contribute up to $7,500 a year in 2026
($8,600 max if over age of 50)
Contribute up to $7,500 a year in 2026
($8,600 max if over age of 50)
Annual contributions may be tax-deductible
Investment interest and dividends grow tax-free; withdrawals are not taxed*
Must take annual distributions beginning at age 73
No mandatory distribution age
Early withdrawals (before age 59 ½) incur 10% tax penalty in many instances
No early withdrawal penalties in many instances for higher education or purchase of first home*

A family member suggested I give MECU a try. I did, and they helped my savings interest grow. I really appreciate the value of being a member.

Dorothy F.

Banking with MECU Credit Union in Maryland means belonging to a local financial institution that invests in the Baltimore community and offers competitive rates on IRA and other savings accounts.

Grow your retirement savings!

*Consult a tax advisor for details.