Share Accounts pay quarterly dividends to our members based on the earnings of the Credit Union. DCECU's Board of Directors determines the dividend rate paid on Share Accounts each calendar quarter. These dividends are calculated based on the daily balance and paid on the first day of the following quarter.
    Information specific to Coverdell Education Savings Share Accounts:
  • Withdrawals (including earnings) are tax-free for both qualified higher-education expenses and public or private K-12 education expenses, such as tuition, tutoring, room and board, and computer equipment.
  • The maximum contribution is $2,000 per child, per year, depending on your income (consult your tax advisor).
  • Funds can be transferred from one child's account to an account for another child in the family. (Certain restrictions apply)
  • The account can be used in conjunction with the HOPE credit and Lifetime Learning credit, but not for the same expenses.
    Opening an IRA can be initiated via any of the following methods:
  • Call our Member Contact Center at (989) 835-7794 or (800) 835-7794 Monday through Friday between 7:00 a.m. and 6:00 p.m. ET to request the required documentation.
  • Visit our Account Services Department Monday through Friday between 7:30 a.m. and 5:30 p.m.

If you have any further comments or questions please call our Member Contact Center at (989) 835-7794 or (800) 835-7794.
This information is not intended as tax advice. Please consult a tax professional regarding your specific circumstances.
    

Share Accounts pay quarterly dividends to our members based on the earnings of the Credit Union. DCECU's Board of Directors determines the dividend rate paid on Share Accounts each calendar quarter. These dividends are calculated based on the daily balance and paid on the first day of the following quarter.

    Information specific to Roth IRA Share Accounts:
  • Regular contributions can be withdrawn tax-free at any time
  • Anyone who has income from compensation, or is filing jointly with a spouse who earns compensation within income limits may contribute
  • Earnings can be withdrawn tax-free for any qualified reason after the account is open five years
    Opening an IRA can be initiated via any of the following methods:
  • Call our Member Contact Center at (989) 835-7794 or (800) 835-7794 Monday through Friday between 7:00 a.m. and 6:00 p.m. ET to request the required documentation.
  • Visit our Account Services Department Monday through Friday between 7:30 a.m. and 5:30 p.m.

If you have any further comments or questions please call our Member Contact Center at (989) 835-7794 or (800) 835-7794.
This information is not intended as tax advice. Please consult a tax professional regarding your specific circumstances.
    

Share Accounts pay quarterly dividends to our members based on the earnings of the Credit Union. DCECU's Board of Directors determines the dividend rate paid on Share Accounts each calendar quarter. These dividends are calculated based on the daily balance and paid on the first day of the following quarter.

    Information specific to Traditional IRA Share Accounts:
  • Anyone under age 70 ½ who has income from compensation, or who is filing jointly with a spouse who earns compensation may contribute
  • Contributions may be tax-deductible
  • Earnings grow tax-deferred until withdrawn
    Opening an IRA can be initiated via any of the following methods:
  • Call our Member Contact Center at (989) 835-7794 or (800) 835-7794 Monday through Friday between 7:00 a.m. and 6:00 p.m. EST to request the required documentation.
  • Visit our Account Services Department Monday through Friday between 7:30 a.m. and 5:30 p.m.

If you have any further comments or questions please call our Member Contact Center at (989) 835-7794 or (800) 835-7794.
This information is not intended as tax advice. Please consult a tax professional regarding your specific circumstances.