Investment Accounts

Don’t Just Save—Let Your Money Work for You.

An investment account with MidSouth puts more money into your pocket without you having to work for it. From Certificates of Deposit (CDs) to Individual Retirement Accounts (IRAs), we have investment solutions to build an even stronger financial foundation.

Open an Account

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Share Certificate of Deposit

Members who utilize our Share Certificate Accounts typically benefit from higher dividends, or return on funds invested, than the dividends earned through regular savings accounts. If you take advantage of a Certificate of Deposit, it can also be used as an investment for your Individual Retirement Account (IRA).

Children, teens, and adults can open Share Certificate Accounts and watch their money grow over time.

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A minimum deposit of $1,000 to open a Share Certificate
A minimum deposit of $500 to open a Johnny Appleseed Share Certificate
Competitive dividend rates
Dividends earned for a fixed term
A variety of terms to choose from
Dividends compounded and credited quarterly
Automatic renewal, with a 10-day grace period to make withdrawals, deposits, or changes without penalty¹

¹The early withdrawal penalty is one quarter’s dividends, whether or not the dividends have been earned if the funds are withdrawn prior to the certificate maturity date.

Individual Retirement Account

An Individual Retirement Account² allows you to save money for retirement with tax-free growth or on a tax-deferred basis. At MidSouth, members can open a Traditional IRA, Roth IRA, or a Coverdell Education Savings Account.

An IRA only requires a $50 minimum to open and allows you to earn dividends quarterly on an average daily balance of $100 or more.

²The Credit Union provides no legal advice to members and provides the foregoing information from a reliable resource to give our members a basic understanding of these services. Consider consulting your tax adviser before making decisions regarding your IRA investment.

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A Traditional IRA³ provides tax advantages as you save for retirement. Contributions to a Traditional IRA are made with funds you may be able to deduct on your tax return, and any earnings can potentially grow, tax deferred, until withdrawn in retirement.

A Traditional IRA can help you prepare for a number of life events, including:

Paying for College

Traditional IRA funds can be withdrawn penalty-free to pay for qualified educational expenses. There is no dollar limit on withdrawals, and funds can be used for tuition, fees, books, and supplies at a post-secondary institution.

Growing Your Nest Egg

Earnings and deductible contributions in a Traditional IRA grow tax-deferred until withdrawal. Age limits for withdrawal do apply.

Purchasing Your First Home

You can withdraw up to $10,000 penalty-free to go toward the purchase of your first home.

³Ability to contribute to an IRA account should be determined by you and your tax advisor. A 10% early withdrawal penalty may apply for other withdrawals taken prior to age 59 ½ if no exceptions apply. Consult your tax advisor for the application of tax laws to your personal situation. All contributions for the current tax year must be made before the tax filing deadline in the following year.

A Roth IRA⁴ allows you to make contributions with money on which you have already paid taxes. Your money can then potentially grow tax-free, with tax-free withdrawals in retirement, provided that certain conditions are met.

A Roth IRA can help you prepare for several life events, including:

Preparing for Retirement

Roth IRAs serve as a great retirement tool because qualified withdrawals, including earnings, are tax-free. Contributions, however, are not tax deductible.

Paying for College

Qualified educational expenses are penalty-free. There is no dollar limit for withdrawals, and funds can be used to pay for tuition, fees, books, and supplies at a post-secondary institution.

Creating a Rainy Day Fund

You have access to your regular contributions tax- and penalty-free at any time for any reason. There is no age limit required to make withdrawals.

Purchasing Your First Home

If you have had your Roth IRA for at least five years, you can use $10,000 toward the purchase of your first home tax- and penalty-free.

⁴Ability to contribute to an IRA account should be determined by you and your tax advisor. A 10% early withdrawal penalty may apply for other withdrawals taken prior to age 59 ½ if no exceptions apply. Consult your tax advisor for the application of tax laws to your personal situation. All contributions for the current tax year must be made before the tax filing deadline in the following year.

A Coverdell ESA⁵ (Educational Savings Account) is a trust or custodial account created to pay the qualified education expenses of the designated beneficiary. The designated beneficiary is the individual who will receive the benefit of the funds in the account. When the account is established, the designated beneficiary must be under 18 years of age, or they must be a special needs beneficiary.

Coverdell ESA holders can contribute up to $2,000 per calendar year.

What You Can Expect From a Coverdell ESA:

A Beneficial and Flexible Account

Withdrawals from a Coverdell ESA are tax-free, as long as they are used for qualified education expenses. Funds can be moved from one child’s account into another eligible family member’s account.

A Maximum Age Limit for Contributions and Withdrawals

Contributions to the ESA can be made until the recipient reaches age 18. By the time they reach age 30, any balance must be distributed or rolled over.

A Requirement for Covering Educational Expenses

Your ESA can only cover qualified educational expenses, including tuition, fees, books, supplies, equipment, and, in some cases, room and board.

⁵Ability to contribute to an IRA account should be determined by you and your tax advisor. Consult your tax advisor for the application of tax laws to your personal situation. All contributions for the current tax year must be made before the tax filing deadline in the following year.

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Ready to Open an IRA Account? Please Contact a Member Service Representative. Call 478-471-9946 or Schedule an Appointment to Get Started.

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Current Savings Rates

IRA Savings Rates

Account Type	Minimum Balance to Open	Minimum Balance to Earn APY⁶	Dividend Rate	APY
IRA Savings	$50	$100.00 – $10,000.00 $10,000.01+	0.748% 0.748%	0.75% 0.75%

⁶APY – Annual Percentage Yield. The APY is accurate as of January 1, 2025. Rates and other terms may change at any time without prior notice. Fees could reduce earnings on the account.

Share and IRA Certificate

Certificate Type and Term	Minimum to Open	Minimum Balance to Earn APY⁶	Dividend Rate	APY⁶
6-Month Certificate	$1,000 ($500 for Johnny Appleseed)	$1,000.00 – $9,999.99 $10,000.00+	2.477% 2.477%	2.50% 2.50%
9-Month Certificate	$1,000 ($500 for Johnny Appleseed)	$1,000+	3.698%	3.75%
1-Year Certificate	$1,000 ($500 for Johnny Appleseed)	$1,000.00 – $9,999.99 $10,000.00+	2.477% 2.477%	2.50% 2.50%
2-Year Certificate	$1,000 ($500 for Johnny Appleseed)	$1,000.00 – $9,999.99 $10,000.00+	2.231% 2.231%	2.25% 2.25%
3-Year Certificate	$1,000 ($500 for Johnny Appleseed)	$1,000.00 – $9,999.99 $10,000.00+	2.477% 2.477%	2.50% 2.50%

⁶APY – Annual Percentage Yield. The APY is accurate as of January 1, 2025. Rates and other terms may change at any time without prior notice. Fees could reduce earnings on the account.

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Digital Banking Services

Manage Your Savings Accounts From Anywhere

When you log in to your MidSouth account online or in the mobile app, you can easily:

Check your balance
Transfer funds
Deposit checks
Pay bills
View eStatements
Locate MidSouth locations

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Additional Accounts and Services

Since 1936, MidSouth has remained dedicated to serving our communities, with a special nod to education and learning.

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Investment Accounts

Don’t Just Save—Let Your Money Work for You.

Share Certificate of Deposit

Individual Retirement Account

Ready to Open an IRA Account? Please Contact a Member Service Representative. Call 478-471-9946 or Schedule an Appointment to Get Started.

Current Savings Rates

IRA Savings Rates

Share and IRA Certificate

Digital Banking Services

Manage Your Savings Accounts From Anywhere

Financial Education

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