iChecking Account
An iChecking Account allows you to easily access your money for your daily transactional needs. Deposit checks and withdraw funds whenever you need. With an iChecking Account, you can earn dividends on your average daily balance—the more you swipe your debit card, the more you can earn!
ACCOUNT BENEFITS
- Dividend-earning potential
- No minimum balance
- No monthly service fee
- Visa® debit card
- Direct deposit
- Free stop payment once per year
- Free statement copy two times per year
- 7 free ATM transactions per month
- CO-OP Shared Branch access
ACCOUNT REQUIREMENTS
- A minimum deposit of $25 to open the account.
- Limit one (1) iChecking dividend-bearing account per membership.
- The iChecking account dividend rate is a variable rate. The dividend rate and annual percentage yield (APY) may change at any time, as determined by the Credit Union Board of Directors.
- The iChecking Annual Percentage Yield (APY) is based on the number of Point-of-Sale (POS) transactions that post to the account during the calendar month. The minimum number of Point-of-Sale transactions does not include authorizations. The debit card transactions only include Point-of-Sale transactions that have paid on the account before the end of the month. Does not include transactions made at an ATM.
- The minimum transaction requirements to earn dividends/APY:
| Number of Transactions | Dividend Rate | APY |
|---|---|---|
| 20-29 | 2.00% | 2.00% |
| 30-39 | 3.00% | 3.00% |
| 40-49 | 4.00% | 4.01% |
| 50+ | 5.00% | 5.01% |
The rates above will be paid on the average daily balance for the calendar month, up to $10,000. Any amount of the average daily balance above $10,000 will earn the current Premier Checking Account APY. Dividends are compounded monthly and credited to the account monthly. Checking accounts subject to credit approval. iChecking POS minimum average dollar transaction is $5 to qualify for the monthly transaction count.
- In addition to meeting POS transaction requirements, the member must also meet the following conditions in order to qualify for dividends paid on iChecking:
- Log in to Online Banking or the MidSouth mobile app at least once per month.
- Be enrolled in eStatements.
- Maintain a valid email address.
- Have a direct deposit posted to the iChecking account within the calendar month for which dividends are posted.
Are you ready to open a checking account ?
MidSouth Membership Means MORE
When you become a MidSouth member and begin taking advantage of any of our checking accounts, you also gain access to our valuable membership benefits.
Available MidSouth Member Services:
- Digital Banking Services
- eStatements
- Notary Services
- Night Deposits
- Payroll Deduction
- Direct Deposits
- Electronic Withdrawals (ACH)
- Coin Machine Access1
- Co-Op Shared Branch Services
1Coin machines are available exclusively at our Mercer, Milledgeville, Hartley Bridge, and Watson Locations.
Digital Banking Services
Manage Your Checking Account 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
- Locate MidSouth Locations
