Member Retirement Accounts (MRA)
The Grand Bay Cooperative Credit Union is interested in the well-being of it' member; therefore we have taken the initiative in helping members secure a comfortable retirement. it is because of this initiative we are we are able to present to you the special account known as the Member Retirement Account (MRA).
BENEFITS OF A MRA ACCOUNT:
Enjoy independence during your "Golden Years". Sit back, relax, enjoy what the world has to offer.
Helping you live a comfortable life after you have retired.
Gives you additional funds to your Social Security benefits
WHO CAN JOIN?
Credit Union members from ages 18-55 are eligible to open a MRA with GBCCU Ltd.
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.