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I’m Changing Careers
Financial Planning for When "Retirement" Doesn’t Mean "Retired."
Retiring from a career in the public sector, but not quite ready to say goodbye to the workforce quite yet? You’ve come to the right place. You have special considerations to think about when it comes to financial planning—which is why we’re ready to help you discover the resources and services you need to make the most of your second act.
Some Key Terms You’ll Need to Know
Stay informed and get the most out of your money—here are some important terms you should know, based on the needs and goals of MCU members like you.
Share Account
A savings account (like our Hero Savings) that represents ownership of a specific amount of money deposited with the credit union and establishes membership in the credit union.
Jumbo Loan
Mortgages that exceed the maximum loan size that can be purchased by government-sponsored enterprises.
Mutual Fund
A type of fund managed by professional investment managers that pools money from many investors and uses that money to buy a diversified portfolio.
Vesting
The entitlement to a present or future asset or benefit, usually referring to an employer-provided benefit such as a retirement account.
IRA
A type of savings account designed to help individuals save for retirement.
Fixed Rate Loan
A loan with a constant interest rate for the life of the loan, providing the borrower with predictable monthly payments.
Smart Savings Options
Invest Your Pension in Your Financial Future.
Got a pension coming to you as a result of years spent working in the public sector? Make a plan for that money. Put your pension toward a future you can count on, with smart savings account options that can make each dollar you deposit go even further.
Earn a High APY* on Your Savings—You Choose the Terms.
A Share Certificate Account makes it easy to set and forget your extra cash—and, just like a CD, you’re in control of the terms. Just choose the length of your account, make your initial deposit, and watch your savings grow with our highest available dividend rates.
Invest More Cash, Earn More Dividends.
Want to grow your savings in an account that allows you save your money without locking it up? An MCU Money Market Account lets you earn higher dividends each time you make a new deposit, while also giving you the ability to access your cash whenever you need it—it’s a win-win.
Start Saving for Your Second Retirement.
With a little planning, you can use your pension from your first retirement to pay for your second one. Choose between pre-tax contributions to a Traditional IRA, or tax-free withdrawals with a Roth IRA—both available at either a fixed or variable rate through MCU.
Building a Budget
Big Career Moves Require Careful Financial Planning.
You’ve got a big career shift on the horizon. In times of financial change (like a new paycheck), it’s better to err on the side of being overly judicious with your money—rather than finding too late that you’ve accidentally stretched your finances too thin. Get prepared with careful planning, expert guidance, and savings products to make each dollar go further.
Crunch the Numbers with Our Budgeting Calculator.
For many members, the most difficult part of budgeting is figuring out how much you're spending each month, and where it's all going. Our budgeting calculator makes it easy—just plug in your income and expenses, and we'll show you how it all breaks down.
Get a Checking Account That Works Overtime.
You’ve got a lot on your plate—why not choose a checking account that makes budgeting easy for you? An MCU Everday Hero Account allows you to manage your money with total control, no surprise fees, and access to digital tools that keep you on target.
Learn How to Build Your Budget, Step By Step.
Know you need to up your put a budget in place but not sure where to start? Get step-by-step budgeting instructions and learn how to create and track a budget right in your NYMCU Digital Banking dashboard.
MCU Lending Services
Set Yourself Up for a Smooth Transition.
Need a little extra cash to cushion your career transition? A Personal Loan, Home Equity Loan, or HELOC could be just what you need to make sure you're covered. Schedule a meeting with a Lending Sales Specialist to get started.
BALANCE Financial Fitness Program
Create a Plan to Get Your Finances in Tip-Top Shape.
There’s never been a better time to check up on your financial fitness. Discover financial guidance and expert advice with BALANCE. Get access to webinars, tools, articles, and counseling that help you reach financial wellness no matter where you are in life—free to MCU members like you.
MCU TRUE Rewards Cash Back VISA®
Get a Credit Card That Puts Money Back in Your Wallet.
You’ve worked hard to earn your money over the years—why not put some cash back in your pocket just for shopping? With an MCU TRUE Rewards Cash Back VISA®, you get rewarded with 1.5% cash back** on each dollar you spend.
Member Support
You’ve Got Questions. We’ve Got Answers.
What are the tax implications of earning a pension while working full time? What’s the most impactful way to invest my cash while allowing me to still meet my everyday financial needs? Questions like these are common for members like you to have, and our team is ready to answer them all. Get informed about your finances—contact MCU today.
Let MCU Help You Plan and Save for Your Future.
Continue building a future you can plan on. Stay in control of your finances with competitive rates, hassle-free banking, and educational resources that empower your decision making. Rest assured knowing our expert team is here to guide you at every step of the way.
