Financial education
Beginner’s Guide to Saving for Retirement
Many young people would like to begin investing and saving for retirement but aren’t sure where to start. Whether you’ve just received your diploma, started your career or you’re ready to invest in a retirement account, we’ve created a guide to help …
Financial education
Attention Married Couples. Learn About Spousal IRAs.
What Is a Spousal IRA? A spousal IRA is a retirement strategy that allows a working spouse to contribute to an individual retirement account (IRA) that is in the name of a non-working spouse with no income or very little income. This is …
Financial education
IRA, 401(k) Limits Status Quo for 2021, Income Level Maximums Rise
There's good news and bad news from the IRS for Americans saving for retirement with IRAs, 401(k)s, and other retirement accounts in 2021. Let's start with the bad news: Contribution limits won't go up next year. And now the good …
Financial education
New Fraud Reporting Platform for Consumers: ReportFraud.ftc.gov
The Federal Trade Commission has launched a new website, ReportFraud.ftc.gov, where consumers can easily report fraud and all other consumer issues directly to the FTC. “Every time you report scams or bad business practices to the FTC, you’re …
Financial education
New Law Changes Payout Timeframe for IRA Beneficiaries
The SECURE Act ends the stretch IRA. Under the now “old rules” (before 2020), an individual designated beneficiary could extend post-death “stretch IRA” required minimum distributions over his lifetime. A young grandchild might have a 70-year payout …
Financial education
Protecting Your Credit During the Coronavirus Crisis
At Merck Employees Federal Credit Union, our top priorities are the health and safety of our employees, members and their families. While your health and welfare are top priorities, you may also be concerned about how current economic conditions …
Financial education
Financial Wellness Center Has Launched
On behalf of everyone at Merck Employees Federal Credit Union, I wish you and your family well during these challenging times. Shelter in place remains in effect for most of the country and finding ways to keep busy is one of the struggles we all …
Financial education
Now More Than Ever, Members Should Be Aware Of Potential Financial Scams
The security of your personal information is a primary goal of Merck Employees Federal Credit Union. That is why we will never ask you for confidential information, like full social security number, full bank account number, debit or credit card …