National Cooperative Credit Union

MRA Gold

MRA GOLD

SAVE some more for Retirement & Keep Your Swag at 60 Plus!

Are You 60? Well, it's not too late. NCCU has introduced a NEW Members' Retirement Account with you in mind. You can continue growing savings now for your golden years with a MRA Gold account.

The MRA Gold:

Productive

A low-risk savings plan

Earns Interest at 4% per annum on any amounts saved

Interest is paid annually

Members enjoy the benefits of Compound Interest

Note: The interest rate is subject to change.

Super Flexible

Affordable and easy to open. Start with only $5.00

Contribute whenever you want and up to $1000 monthly

Contribute regularly through a deduction or standing order on your pension, other income or savings

Access the full value of your MRA Gold at age 70

Opening an MRA Gold

NCCU members can open a MRA Gold account between the age of 60 and 65

Visit any of our seven (7) Branches with your birth certificate and a valid picture identification and complete an MRA Gold application form.

Click here to view the MRA Gold application form.

Members with a Matured MRA, or a Maturing MRA

You can complete the application form and mail to us at National Cooperative Credit Union Ltd, Member Services Department, PO Box 175, 31-37 Independence Street, Roseau, Dominica along with instructions for a deposit; or send by email to: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it ,

Overseas Members

To open from overseas, simply print the MRA Gold application form (see above) and complete. The form is to be notarised and sent to a NCCU Branch along with notarised copies of your birth certificate (or other documents which confirms your date of birth), a valid picture identification and a deposit.

Other Information

The MRA Gold is not a life insurance policy. It does not require members to save regularly and will not lapse.

Deposits

Deposit up to $1000 monthly

Members residing overseas can send deposits by personal cheque, bank draft, international money order or JN Money Transfer.

Click here for information on transferring funds!

Withdrawals

NO Withdrawals are allowed until the account matures at age 70

Pledge as Collateral

The MRA Gold can be pledged as collateral against a loan at NCCU or elsewhere, to the extent of the cash value at the date of pledging.

Maturity

The account matures on your 70th birthday.

The MRA Gold ceases on the death of account holder.

The balance on the account plus interest accrued on the date of death will be paid to the beneficiary or estate upon presentation of proper documentation.

MRA Projections

See below how much you can set aside by starting to save early for your retirement.

Estimated funds available at Age 70(EC$)

Columns A assumes $200, Columns B $500 and Columns C $1,000 contributed monthly at a rate of 4% per annum.

For illustrative purposes only. Actual balances may vary.

STARTING AGE

A
DEPOSITS
($200/MONTH)

A
ESTIMATED FUND BALANCE AT 70

$24,000.00

$29,439.00

$12,000.00

$13,281.00

STARTING AGE

B
DEPOSITS
($500/MONTH)

B
ESTIMATED FUND BALANCE AT 70

$60,000.00

$73,597.00

$30,000.00

$33,202.00

STARTING AGE

C
DEPOSITS
($1,000/MONTH)

C
ESTIMATED FUND BALANCE AT 70

$120,000.00

$147,195.00

$60,000.00

$66,404.00

Note: The MRA Gold account closes on Member's 70th birthday.

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Roseau Branch/Head Office	255-2172
La Salette Branch	255-2226
St. Paul Branch	255-2215
St. David's Branch	255-2256
Vieille Case Branch	255-2241
Castle Bruce Branch	255-2264
La Plaine Branch	255-2272

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