Skip to main content

Certificates & IRAs

Lock in a higher rate with a share certificate, or grow retirement savings tax-advantaged with a Traditional IRA, Roth IRA, or Coverdell Education Savings Account. Every account at Metro Community FCU is separately insured up to $250,000 by the NCUA.

Open an Account  |  View Current Rates

Share Certificates

A share certificate works like a CD at a bank — you deposit a set amount for a fixed term and earn a guaranteed dividend rate higher than a standard savings account. The rate is locked in for the full term so your earnings don't fluctuate. At maturity, your full balance plus dividends is yours to keep or reinvest.

  • Guaranteed dividend rate locked in for the full term
  • Higher yield than a standard share savings account
  • No monthly fees
  • Federally insured up to $250,000 by the NCUA
  • View current certificate rates

Traditional IRA

A Traditional IRA lets you grow retirement savings with tax-deferred earnings — you don't pay taxes on dividends until you start withdrawing. Metro calculates dividends daily and pays them monthly, so your balance compounds faster than accounts that pay quarterly or annually. If you meet IRS eligibility requirements, contributions may also be tax-deductible, putting more money to work today.

Eligibility & Contributions

  • Must be a Metro member with earned income
  • Contributions stop in the year you turn 73
  • 2025 contribution limit: up to $7,000 per year; $8,000 if age 50 or older*
  • Contributions may be tax-deductible depending on your income and whether you have a workplace retirement plan*

Withdrawals

  • Penalty-free withdrawals begin at age 59½
  • Required minimum distributions (RMDs) begin at age 73*
  • Early withdrawals are subject to taxes and a 10% penalty except under IRS exceptions*

Account Details

  • No monthly fee with a $100 minimum balance
  • No setup fee, no administrative fee
  • Dividends calculated daily, paid monthly
  • Separately insured up to $250,000 by the NCUA
  • Access your account through online and mobile banking

*Consult a qualified tax professional for deductibility requirements, income limits, and eligibility. IRS contribution limits are subject to annual adjustment.

Roth IRA

With a Roth IRA, you contribute after-tax dollars — and qualified withdrawals in retirement are completely tax-free, including the earnings. Unlike a Traditional IRA, there is no age limit on contributions as long as you have earned income, and there are no required minimum distributions during your lifetime. Your ability to contribute phases out at higher income levels. Talk to a tax professional about whether a Roth or Traditional IRA makes more sense for your situation.

Eligibility & Contributions

  • Must be a Metro member with earned income
  • No age limit on contributions
  • 2025 contribution limit: up to $7,000 per year; $8,000 if age 50 or older*
  • Contribution amount phases out based on modified adjusted gross income (MAGI)*
  • Contributions are not tax-deductible

Withdrawals

  • Qualified withdrawals — including earnings — are tax-free after age 59½, provided the account has been open at least 5 years*
  • Also applies for first home purchase (up to $10,000), disability, or death*
  • No required minimum distributions during the owner's lifetime*

Account Details

  • No monthly fee with a $100 minimum balance
  • No setup fee, no administrative fee
  • Dividends calculated daily, paid monthly
  • Separately insured up to $250,000 by the NCUA
  • Access your account through online and mobile banking

*Consult a qualified tax professional for income phase-out ranges, contribution limits, and withdrawal rules. IRS limits subject to annual adjustment.

Coverdell Education Savings Account (ESA)

The Coverdell ESA is designed specifically for education savings. Contribute up to $2,000 per year per child and as long as the funds are used for qualified education expenses — K–12 tuition, college costs, books, supplies, room and board, and more — withdrawals are completely tax-free. Parents, grandparents, family, and friends can all contribute, though total contributions from all sources for one child cannot exceed $2,000 in a single year.

Contributions

  • Up to $2,000 per child per year from all sources combined*
  • Anyone can contribute — parents, grandparents, family, friends, or the child*
  • Contributor income limits apply: phases out for single filers above $95,000 MAGI; no contribution allowed above $110,000. For joint filers, phases out above $190,000; no contribution above $220,000*
  • Contributions must be made before the child turns 18*
  • Contributions are not tax-deductible

Withdrawals & Qualified Expenses

  • Withdrawals for qualified education expenses are tax-free*
  • Funds must be used by the time the beneficiary turns 30, or rolled to an eligible family member's ESA*
  • Qualified expenses include: tuition, fees, books, supplies, equipment, tutoring, room and board, uniforms, transportation, and educational technology*

Account Details

  • No monthly fee with a $100 minimum balance
  • No setup fee, no administrative fee
  • Dividends calculated daily, paid monthly on balances of $100 or more
  • Separately insured up to $250,000 by the NCUA

*Consult a qualified tax professional for complete contribution, income, and withdrawal rules. Coverdell ESA rules are subject to IRS regulations.

Not sure which account is right for you? Call us at 304-697-4652 or stop into either branch — Huntington or Lavalette — and we will walk you through it.

Open an Account  |  View Current Rates

All accounts federally insured by the NCUA. Membership eligibility required. This page provides general information only and does not constitute tax or legal advice. Consult a qualified tax professional for guidance specific to your situation. NMLS ID: 746478.