Money Market IRAs

DCU Money Market IRAs (Individual Retirement Accounts) have five dividend rate tiers based on your daily balance. The greater your balance, the higher the dividends you earn. See Rates for current tiers and dividend rates.

Dividends are compounded daily and paid monthly. Dividend rates can change weekly. A minimum balance of only $1,000 is required to earn dividends. Contributions and withdrawals can be made anytime without a DCU penalty.

You can contribute to your Money Market IRA through automatic transfer from your savings or checking account. Automatic transfers allows you to spread your annual maximum $5,000 contribution throughout the year. If you contribute $96.15 per week or $416.67 per month, you will accumulate almost $5,000 by year end. With unrestricted withdrawals, you can move your contribution to a DCU IRA Certificate for higher returns or roll it over into another qualified retirement investment.

Money Market IRAs can be used for Traditional, Roth, Coverdell Education Savings Accounts (formerly Education IRA), and for Small Business Plans.

IRAs are federally insured up to $250,000 per member by the National Credit Union Administration (NCUA), a U.S. Government Agency.

There are several ways to make both Current and Prior Year Contributions to a DCU IRA and the process to transfer or roll an existing IRA from another institution to a DCU IRA couldn't be simpler. At DCU there are no administrative, annual, transaction, or maintenance fees. You can fund your DCU IRA by...

IRA forms at DCU's Retirement Central Service Center – This online service is an easy way to complete your IRA forms. Simply answer some questions regarding the transaction you wish to complete and the Service Center will produce the necessary forms.

If you have any questions, or need paper forms, please speak with a Customer Service Representative at your nearest DCU branch or call our Information Center at 508.263.6700 or 800.328.8797, weekdays from 8:00 am to 9:00 pm and Saturdays from 9:00 am to 3:00 pm, Eastern time.

Terms and conditions applicable to DCU's IRAs can be found in the IRA Disclosure Statement, Truth-in-Savings Disclosure and Agreements (pdf format), our rates page, and Schedule of Fees and Service Charges. For a copy of any of these disclosures or for more information, visit a DCU branch, call the Information Center, or order online.

Read all Money Market IRA questions/answers.

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