Certificates & IRAs

Term Certificates

MERCO offers a variety of certificates at competitive rates and terms. Earn competitive yields on deposits of $500 or more. Pick a term that suits your needs from six to 60 months.

Your MERCO Certificate is secure and risk-free because it is insured for at least $250,000 by the National Credit Union Administration (NCUA), a U.S. Government agency.

At MERCO CU you are not just a depositor, you are an owner!

Rates Fees & Disclosures

IRAs & Coverdell Education Savings Accounts (CESAs)

MERCO offers IRAs and IRA Certificates. Open an IRA with as little as $50. Choose from Traditional or Roth IRAs and enjoy tax benefits (consult your tax advisor). MERCO also offers Coverdell Education Savings Accounts (CESA). There are no application, administrative or maintenance fees.

An IRA or CESA from MERCO can provide for you and your family’s future security while earning high, tax-deferred dividends. You can start an IRA with just $50 and add to it in small amounts each month through payroll deduction or automatic transfer. Most members can deduct all or part of their annual IRA contributions from their taxes each year.

You can choose from three types of IRA accounts

Be sure to check with your tax advisor to determine which type of IRA best meets your needs:

Traditional IRA

Traditional IRA allows tax-free contributions up to $6,500 for 2023. If you’re 50+, you can contribute an additional $1,000 each year. Your dollars grow tax-deferred in the account until you reach your required minimum distribution age as set by the IRS.

Roth IRA

Roth IRAs are similar to Traditional IRAs, with the biggest distinction being how the two are taxed. Roth IRAs are funded with after-tax dollars—this means that the contributions are not tax-deductible, but once you start withdrawing funds, the money is tax-free.

Coverdell Education Savings Account (CESA)

Coverdell Education Savings Account, formerly Education IRAs, allows non-deductible contributions of $2,000 per tax year per child. Qualified distributions (withdrawals) are tax-free and penalty-free.

IRA Certificates

IRA Certificates allow you to lock in higher dividends by choosing a term of 6, 9, 12 or 24 months. You can open an IRA Certificate with as little as $1,000.

Your IRA is secure and risk-free because it is insured for at least $250,000 by the National Credit Union Administration (NCUA), a U.S. Government agency.