The Grand Bay Credit Union has taken the initiative in helping its members to secure a comfortable Retirement. We are also interested in your wellbeing after you have retired. We therefore present to you this special account known as Member Retirement Account (MRA).
WHY MEMBER RETIREMENT ACCOUNTS?
The MRA is designed to meet the needs of our members:
Helping you build your retirement assets.
Helping you live a comfortable life after you have worked hard.
Helping you put in the missing block that Social Security and maybe Insurance are missing.
WHO CAN JOIN?
All members from ages 18-55 are eligible to open a MRA with GBCCU Ltd. This include both salary and self-employed members.
WITHDRAWAL FROM MRA.
Withdrawals are not allowed since this account is designed to provide you with income after retirement.
SETTLEMENT & MATURITY OF MRA
Account matures at age 60, but can be broken at age 55 without any penalty.
SAVING IN MY MRA
Savings can be done by
cash deposits, but MUST NOT exceed $1000.00 monthly
Interest rate of 5% will be paid annually, on December 31.
Simply come in to the office with a last salary slip and a minimum of $50.00.