Online Banking Login
Whether you’re just starting your career or you have spent several decades on the job, your retirement years will be here before you know it. With an IRA, you can save for your golden years and possibly enjoy a range of tax benefits.
To set up your IRA, please stop by for an appointment with our Member Services. We’ll be happy to facilitate and set up your new retirement account!
Features & Benefits
Tax Advantages
Potential tax deductions and deferral of taxable income can reduce your tax liability. Contributions for the prior year are accepted until the tax return due date.
Flexible Contributions
Choose fixed or variable rate IRAs. Contributions must stay within IRS limits and may include spousal and catch-up contributions for those 50+.
Earnings & Interest
Earn higher dividends than regular shares—accrued daily, compounded monthly, and possibly tax-deferred.
Convenient Deposits
Fund your IRA through payroll deduction, direct transfers, or rollovers within 60 days from another institution.
You may be able to defer taxable income, which reduces your income tax liability. There is a $50.00 fee for IRA accounts closed within 12 months of the opening date. However, there are no annual maintenance fees. Payroll deduction offers a convenient way to make deposits. This account earns a higher rate of interest than regular shares, and dividends might also be tax-deferred. Contributions may be tax deductible for most members.
You have a choice of variable or fixed rate investment. Dividends are accrued daily, compounded monthly, and paid on the last day of each month after closing. Contributions may not exceed the annual contribution limit or your annual income, whichever is less. In addition to the maximum annual contribution, your working or non-working spouse may also contribute up to the annual limit. Contributions for the previous tax year are accepted until the tax return due date. Withdrawals from a Traditional IRA are reported as taxable income, and early withdrawals (before age 59½) may be subject to a 10% IRS penalty. IRAs may not be used as collateral for loans. Funds may be deposited via direct transfer or rolled over from another financial institution within 60 days of receipt. Withdrawals from a Traditional IRA must begin at age 72 (or 70½ if you reached that age by 2020) but can begin as early as 59½ without penalties. Contributions to a Roth IRA may be withdrawn at any time, while earnings may be taxable and penalized if withdrawn before age 59½. Members age 50 and up may make an additional catch-up contribution of $1,000.00.
Rates
I have nothing but high praise for the staff at the Auburn branch of MFFCU. For over 17 years I have been a loyal member. Any time I (or my son) have needed assistance from the loan department both you and Sue M. have been extremely helpful and friendly. I look forward to many more years as a member.Thomas F.
Anytime I have questions about my loan, the lending team is there to help me, this is the only bank account I have and I don't see myself leaving anytime soon.Tyler G.
My family has been using this credit union for 3 generations now. Great customer service and just really really helpful staff. Working with them is always a pleasure. They truly want the best for their members. Thank you Maine Family!Emily F.
I've been with Maine Family for a long time, you guys are always there for me and have been a great support while trying to build my credit. You treat me fairly and make me feel comfortable in sharing my story.Edward F.
Maine Family Federal Credit Union has been an outstanding financial partner. Their rates are some of the best around, whether you’re looking for a loan, savings account, or mortgage. The staff is always friendly, knowledgeable, and genuinely helpful—they take the time to explain your options and make sure you’re getting the best fit for your needs. It’s refreshing to work with a team that truly cares about their members. Highly recommend!Chris H.
I cannot say enough great things about the staff!!!! Always so helpful, knowable, upbeat and friendly. Kudos to all of you. I appreciate you!!!Joyce S.
We are longtime members with the credit union. We've always had a great experience with the lending department and all other staff members. They are a great group of people. Very friendly! We will always bank and do our business there.Donald G.
The entire team is great and very accommodating. I’ve never had an interaction with a teller that left me feeling uncomfortable or not valued. They really are a great team.Gabriel J.
My experience with getting a loan was super easy, Danielle made the process smooth and was extremely professional and responsive to correspondence. I enjoyed the experience so much I sent my girlfriend to Maine Family recently to get an auto loan through Danielle as well. She's a great employee!Michael L.
My husband and I have been using Maine Family FCU for over 20 years. We have trusted them with all our banking needs in the course of those years and have been very pleased with the customer service we have received. Over the past several months, we have reached out to different departments and have been given such amazing customer service. Their service has been so remarkable that we have now started our family’s next generation with all of their banking needs with Maine Family FCU with our continued trust in them!Kacey
