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Savings


1st MS wants to help you effectively manage your money and your life. To do that, we offer several Savings Accounts that help you hold on to your hard-earned money and grow your financial future.

Whether you are just starting out or are approaching retirement, we have a plan for every stage of life.

Regular Savings

By opening a Savings account with a credit union, you not only have a safe place to store your money, but you become a member in the credit union! This means you will acquire dividends as well as voting privileges. You have a say in the future of our business. We are honored to partner with you and help you grow your savings!

Features of our Regular Savings include:

  • Payroll deduction option allows your account to grow even faster
  • Dividends accrued on average daily balances of $100 or more - click here to view current rates.
  • Excessive withdrawal fees may apply
  • Free instant-issue debit card upon opening account (may be used at designated ATMs)

Are you interested in opening a Regular Savings account at 1st MS? Visit one of our locations today contact one of our Member Service Representatives. Click here for contact information.

1st Beginning Savings

1st Beginning Savings was specifically designed for those under the age of 18. This is an ideal teaching tool to help your children or grandchildren learn to be financially responsible at a young age. It also gives young people an introduction into the process of personal banking. Their eyes will light up when they receive their first dividend check!

Features of our 1st Beginning Savings include:

  • Adult must set up account
  • Account is free
  • No minimum balance
  • Dividends pay quarterly once balance equals $100 - click here to view current rates.
  • $20 early withdrawal fee

Are you interested in opening a 1st Beginning Savings account at 1st MS? Visit one of our locations today contact one of our Member Service Representatives. Click here for contact information.

High-Yield Money Market Savings

This Savings account allows you to earn interest at higher market rates than our Regular Savings account, while maintaining easy availability. Features include:

Are you interested in opening a High-Yield Money Market Savings account at 1st MS? Visit one of our locations today contact one of our Member Service Representatives. Click here for contact information.

Share Certificates

1st MS Share Certificates offer you a higher dividend rate than Regular Savings with less risk than Money Market Savings. It’s a great option for those who want to know their return ahead of time. Features include:

  • Rates calculated daily - click here to view current rates.
  • Choose from 6 months up to 5 years
  • Deposits insured through NCUA up to at least $250,000 with IRA deposits insured separately up to $250,000
  •  Traditional Certificates require a minimum deposit of $500

Are you interested in opening a Share Certificate at 1st MS? Visit one of our locations today contact one of our Member Service Representatives. Click here for contact information.

Club Savings

1st MS offers Christmas Club Savings accounts for our members who want to save up for this special event.  When the time comes, you’ll be ready because we make saving easy with our specialized plan!

Christmas Club Benefits:

  • No membership fee
  • Increased interest rate
  • Low $20 early withdrawal fee
  • No limit on multiple withdrawals between 11/1 and 1/1

Are you interested in opening a Christmas Club Savings account at 1st MS? Visit one of our locations today contact one of our Member Service Representatives. Click here for contact information.

Vacation Club Savings

1st MS takes the worry out of budgeting for vacations by offering Vacation Club Savings accounts. Open an account and watch your savings accumulate each month, so you'll be ready for your honeymoon or family trip!

Vacation Club Benefits:

  • No membership fee
  • No withdrawal fees
  • No limit on withdrawals - you can access your funds at any time

Are you interested in opening a Vacation Club Savings account at 1st MS? Visit one of our locations today contact one of our Member Service Representatives. Click here for contact information.

IRAs

1st MS offers Traditional and Roth IRAs to help you save for retirement. An IRA allows you to contribute up to $5,000 annually (or $6,000 for members ages 50 or older) in a tax-deferred account.* Saving your earnings through an IRA helps make your retirement years much more manageable. Learn more about these two options below:

Traditional IRA

  • 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
  • Withdrawals may be penalty free depending on reason for withdrawal
  • Deduct some or all contributions to a Traditional IRA
  • Contributions may be tax-deductible

Roth IRA

  • Get taxed only once with all earnings tax free when you or your beneficiary withdraws funds
  • You pay income tax on the money you earn, and then make your contribution into your Roth IRA
  • 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
  • Unlike the Traditional IRA, mandatory distribution is not required at the age of 70 ½

Visit one of our locations and let one of our trained professionals explain the differences in these plans and determine which one is right for you. Contact one of our Member Service Representatives. Click here for contact information.

*Please seek expert advice from a tax certified advisor for any investment you make.