1st Mississippi Federal Credit Union

1st Mississippi Federal Credit Union offers a variety of savings programs to help you earn the most for your money.

• Regular Savings 
• 1st Beginning Savings
• High-Yield Money Market Savings
• Share Certificates
• Traditional IRA
• Roth IRA

Regular Savings

Watch your savings grow while acquiring ownership.   Add payroll deduction and watch your account grow even faster!

• Dividends based on average daily balance
• Dividends credited quarterly
• Dividends accrued on daily balances of $100 or more
• Excessive withdrawal fees may apply

1st Beginnings Savings

 This feature-filled account is available for those under the age of 18.  What a great way to teach your children/grandchildren the importance of saving!  

• Adult must set up account
• NO membership fee
• NO minimum balance
• $20 early withdrawal fee
• Dividends pay quarterly once balance equals $100
• Higher dividend rate than regular savings
• And so much more!

Contact our member services for more details.

High-Yield/Money Market Savings

Want your money to earn interest at higher market rates but need your money to be available when you need it?  Then what you need is a high-yield/money market savings account.

• Higher rates than regular savings
• Accrues daily
• Dividends paid monthly on average daily balance of $100 or more, with tiered rates on $7500 and over.

Share Certificates

You know saving is smart, so why not earn the highest rates possible in an insured account?  Share Certificates are a smart way to invest wisely and know your return ahead of time. 

• Higher dividend rates than regular savings account
• 6-month up to 5 years
• Deposits insured through NCUA up to at least $250,000 with IRA deposits insured separately up to $250,000.

Certificate Types:

• Traditional Certificates (high rates):  minimum deposit of $500
• Jumbo Certificates (best rates):   minimum deposit of $95,000

Traditional IRA

Playing it smart by planning ahead for retirement?  By investing in an IRA you can help make your retirement years some of the happiest years of your life.

Individual Retirement Arrangements (IRAs) were created to give wage earners a tax-deferred investment plan for retirement. Open a Traditional IRA and take advantage of the following benefits:

• Defer taxes until money is withdrawn (regardless of income or other pension plans)
• Withdraw money during retirement when you are in a lower tax bracket
• Deduct some or all contributions to a Traditional IRA

Roth IRA

If you like the idea of getting taxed only once and having all earnings tax free when you or your beneficiary withdraw them, then consider the Roth IRA.

Here’s how it works: 

• You pay income tax, and then make your contribution with post-tax dollars.
• Your principal grows tax free.
• You pay no further taxes on withdrawal.*

*All contributions and earnings left in the Roth IRA for at least five years and withdrawn after age 59½ will not be taxed, no matter what your tax bracket or income level. And, unlike the Traditional IRA, mandatory distribution is not required at the age of 70 ½.

* Please consult your tax consultant when pulling any funds*