Certificates

NMA Federal Credit Union is a financial institution interested in providing you the accounts and services that best suit your needs. Open an account today and start enjoying the benefits of membership. Click HERE to see our competitive rates. Call 757-497-4500 or email us now to find out how to join.

Share Certificates

Share Certificates offer a higher rate of interest on your savings. Dividends may be paid monthly and transferred to shares, share drafts, money market or club accounts or dividends may be compounded quarterly. Early withdrawal penalties depend on the term of the certificate.

Individual Retirement Account Certificate

IRA Certificates earn higher interest than the regular IRA account, but there are minimum balances and terms. Conditions are the same as the regular Individual Retirement Account. Members must first open an IRA Share Account before taking out one or more certificates.

The tax laws may affect the amount of tax deductions your IRA can receive. Regardless of the deductibility of contributions, you will be compounding interest earnings which may be tax deferred until you withdraw them. In this way an IRA will add up to significantly more than the same investment in a similar but taxable account.

IRA certificates are insured up to $250,000 separately from other accounts. Dividends are compounded and paid quarterly on the anniversary date.

Penalty for early withdrawal depends on the term of the certificate.

Individual Retirement Account

Regardless of your income, or tax status, an Individual Retirement Account is a recommended means of assuring a more financially secure future. Traditional IRAs, IRAs and Roth IRAs are available through NMA Federal Credit Union.

You can contribute to a traditional IRA if you earn compensation, and you will not reach age 70 1/2 by the end of the year.

If you meet the eligibility test and you are under age 50, you can contribute up to $5,500 through 2016. For owners age 50 or older, limit is $6,500 for 2016.

The tax laws may affect the amount of tax deductions your IRA can receive. Regardless of the deductibility of contributions, you will be compounding interest earnings which may be tax deferred until you withdraw them. In this way an IRA will add up to significantly more than the same investment in a similar but taxable account.

We offer competitive rates on IRA accounts along with the security of insurance by the National Credit Union Administration (NCUA). IRA accounts are insured up to $250,000 separately from other accounts. Dividends are paid quarterly, deposits earn from the date of deposit to the date of withdrawal and the account must be open at the end of the quarter to receive dividend payment.

There are no fees to open an IRA, and a minimum deposit of only $25.00. Deposits can be made in person, by mail or by direct deposit. An early withdrawal penalty may apply.